For the purchase amounts in Exercise 8: a) Construct a 90% confidence interval for the mean purchases

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For the purchase amounts in Exercise 8:

a) Construct a 90% confidence interval for the mean purchases of all customers, assuming that the assumptions and conditions for the confidence interval have been met.

b) How large is the margin of error?

c) How would the confidence interval change if you had assumed that the standard deviation was known to be $20?

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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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Question Posted: May 15, 2015 02:19 AM

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For the purchase amounts in Exercise 8: a) Construct a 90% confidence interval for the mean purchases

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a To find the confidence interval use y t n 1 SE y where SE y s n 4526 1729 ...View the full answer

Business Statistics

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