Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. During a 2 month period (44 weekends), daily fees collected averaged $126, with a standard deviation of $15.
(a). What assumptions must you make in order to use these statistics for inference?
(b). Write a 90% confidence interval for the mean daily income this parking garage will generate.
(c). Explain in context what this confidence interval means.
(d). Explain what "90% confidence" means in this context.