(Solved): A chain of coffee shops is experiencing financial pressures due to increased competition for its n ...

A chain of coffee shops is experiencing financial pressures due to increased competition for its numerous urban coffee shops. Total sales revenue has dropped by \( 15 \% \) and the company wishes to establish a sales monitoring process to identify the shops that are underperforming. Historically the daily mean sales for a shop has been \( \$ 10,500 \) with a variance of \( 1,000,000 \). Their monitoring plan will take a random sample of 3 days sales per month and use the sample mean sales to identify shops that are underperforming. Establish the lower limit sales such that only \( 5 \% \) of the shops would have a sample sales mean below this value. The lower limit would be \$ (Round to two decimal places as needed.)