(Answered)-8.44 A growing niche in the restaurant business is gourmetcasual breakfast, lunch, and brunch....

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8.44 A growing niche in the restaurant business is gourmetcasual breakfast, lunch, and brunch. Chains in this group include EggSpectation and Panera Bread. Suppose that the mean per-person check for EggSpectation is approximately $12.50, and the mean per-person check for Panera Bread is $7.50. a. Assuming a standard deviation of $2.00, what sample size is needed to estimate, with 95% confidence, the mean per-person check for EggSpectation to within b. Assuming a standard deviation of $2.50, what sample size is needed to estimate, with 95% confidence, the mean perperson check for EggSpectation to within c. Assuming a standard deviation of $3.00, what sample size is needed to estimate, with 95% confidence, the mean per-person check for EggSpectation to within d. Discuss the effect of variation on the sample size needed

 

Solution ID:10137856 | Question answered on 16-Oct-2016

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