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