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    Determining the confidence interval for means

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    A packaged goods supplier designed a new package ("white") that it thought was more appealing than its old package ("blue"). It conducted a 10-week trial of the two packages in selected "matched" stores with the results shown below (sales in thousands of dollars).

    Week Blue White
    1 8.4 9.2
    2 4.9 5.3
    3 3.3 3.1
    4 6.9 7.6
    5 9.3 9.2
    6 8.7 9.2
    7 5.3 5.7
    8 3.4 4.4
    9 6.9 7.8
    10 7.9 8.5

    Question 1
    The point estimate for the new "White" package is ___.

    Question 2
    The point estimate for the old "blue" package is ___.

    Question 3
    The standard deviation for the "White" package is ___.

    Question 4
    The standard deviation for the "Blue" package is ___

    Question 5
    The 95% prediction interval estimate for the new "White" package is, lower ___, and higher ___.

    Question 6
    The 95% prediction interval estimate for the new "Blue" package is, lower ___ , and higher ___.

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    https://brainmass.com/business/managerial-statistics/604017

    Solution Summary

    This solution depicts the steps to estimate the confidence intervals in the given case.

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