Suppose the shipping weight of your cheese shop\'s customized gift baskets is as

Question

Suppose the shipping weight of your cheese shop's customized gift baskets is asymmetrically distributed with unknown mean and standard deviation. For a sample of 60 orders, the mean weight is 59 ounces and the standard deviation is 7.9 ounces. What is the lower bound of the 99 percent confidence interval for the gift basket's average shipping weight? Note that the correct answer will be evaluated based on the z-values in the summary table in the Teaching Materials section. Please round your answer to the nearest tenth.

Explanation / Answer

Sol:

n=60

large sample

follows normal distribution according to central limit theorem

Z alpha/2 for 99%=2.576

Sample mean=xbar=59

sample sd=s=7.9

the lower bound of the 99 percent confidence interval for the gift basket's average shipping weight is

xbar-Z crit*s/sqrt(n)

=59-2.576*7.9/sqrt(60)

=56.4

ANSWER:56.4

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