A statistics student who worked as a cashier at the (former) electronics superstore Circuit City wanted to
Question:
a. Figure B shows a 95% confidence interval for the mean amount spent. Interpret this confidence interval.
b. A log transform of the data shows a more normally distributed data set. Figure C shows a 95% confidence interval for the log (base 10) of the amounts spent. Convert the boundaries back into dollars by raising 10 to the power given as the boundary. Report and interpret the confidence interval for the geometric mean.
c. Which interval is narrower?
d. Which interval would you report if you wanted to tell a Circuit City manager about the typical amount of money spent via credit or debit cards? Explain.
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Related Book For
Introductory Statistics Exploring The World Through Data
ISBN: 9780321978271
2nd Edition
Authors: Robert Gould, Colleen Ryan
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