A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa, Mastercard, or one of the other major credit cards. To do this, it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards. The following represents the results of the sampling: Based on these sample data, what is the lower limit for the 95 percent confidence interval estimate for the difference between population means?
A) About $5.28
B) Approximately $4.85
C) Approximately $2.54
D) Approximately $3.41

Question

A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa, Mastercard, or one of the other major credit cards. To do this, it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards. The following represents the results of the sampling:  Based on these sample data, what is the lower limit for the 95 percent confidence interval estimate for the difference between population means?
A) About $5.28 
B) Approximately $4.85 
C) Approximately $2.54 
D) Approximately $3.41

Quizplus · Accepted Answer

The Answer of A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa, Mastercard, or one of the other major credit cards. To do this, it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards. The following represents the results of the sampling:  Based on these sample data, what is the lower limit for the 95 percent confidence interval estimate for the difference between population means?
A) About $5.28 
B) Approximately $4.85 
C) Approximately $2.54 
D) Approximately $3.41

A Major Retail Clothing Store Is Interested in Estimating the Difference