A major department store chain is interested in estimating the mean amount its credit card customers spent on their first visit to the chain's new store in the mall.Fifteen credit card accounts wererandomly sampled and analyzed with the following results: and S= 20 , S being thestandard deviation.Construct a 95% confidence interval for the mean amount its credit card customers spent on their first visit to the chain's new store in the mall if the amount spent follows a normal distribution.
A) $50.50 $9.09
B) $50.50 $10.12
C) $50.50 $11.00
D) $50.50 $11.08
Correct Answer:
Verified
Q22: For a t distribution with 12 degrees
Q23: Given a sample mean of 2.1 and
Q29: It is desired to estimate the mean
Q31: An economist is interested in studying the
Q33: A 99% confidence interval estimate can be
Q34: Suppose a 95% confidence interval for
Q35: The difference between the sample size and
Q37: A major department store chain is
Q37: The t distribution is used to develop
Q39: Which of the following is not true
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents