SOLUTION: A market researcher states that she is 95% confident that the average monthly sales of a product are between $170,000 and $200,000. What was the mean of the sample she used to arri

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Question 924064: A market researcher states that she is 95% confident that the average monthly sales of a product are between $170,000 and $200,000. What was the mean of the sample she used to arrive at this statement? Explain your answer.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
95% confident that the average monthly sales of a product are between $170,000 and $200,000
....
(200,000-170,000)/2 = 15,000
200,000-15,000 = 185,000 the mean
..........
CI: 185,000 - 15,000 < u < 185,000 + 15,000