The monthly sales of a plywood shop are normally distributed with a standard deviation of ₹900. A statistical study of sales in the last nine months has found a confidence interval for the mean monthly sales with extremes ₹4663 and ₹5839. What were the average sales over the nine-month period?
The monthly sales of a plywood shop are normally distributed with a standard deviation of ₹900. A statistical study of sales in the last nine months has found a confidence interval for the mean monthly sales with extremes ₹4663 and ₹5839. What were the average sales over the nine-month period?
Solution
✅ Correct Option: 3
A confidence interval is symmetric about the sample mean, so the mean is the midpoint of the two extremes.
Hence the average is .
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