The owner of a local supermarket believes the average number of gallons of milk

Question

The owner of a local supermarket believes the average number of gallons of milk the store sells per day is 331.97. In a random sample of 20 days, the owner finds that the average number of gallons sold was 247.42 with a standard deviation of 33.878. Using this information, the owner calculated the confidence interval of (234.321, 260.519) with a confidence level of 90%. Which of the following statements is the best conclusion?

1) The average number of gallons sold per day is not signficantly different from 331.97. 2) The percentage of days on which more than 331.97 gallons of milk are sold is 90%. 3) We cannot determine the proper interpretation based on the information given. 4) We are 90% confident that the average number of gallons sold per day is greater than 331.97. 5) We are 90% confident that the average number of gallons sold per day is less than 331.97.

Explanation / Answer

Ans: 5) We are 90% confident that the average number of gallons sold per day is less than 331.97.

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