A credit card company takes a random sample of 100 cardholders to see how much they charged
Question:
A credit card company takes a random sample of 100 cardholders to see how much they charged on their card last month. A histogram and boxplot are as follows:
A computer program found that the 95% confidence interval for the mean amount spent in January 2014 is 1- + 28,366.84, + 90,691.492. Explain why the analysts didn€™t find the confidence interval useful, and explain what went wrong.
Transcribed Image Text:
80 60 40 20 0 500,000 1,500000 2,500,000 January 2014 Charges 0 500000 1,500,000 2,500,000 January 2014 Charges
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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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