Many U.S. consumers are using debit cards to avoid accruing debt (creditkarma.com, July 27, 2019). Based on
Question:
Many U.S. consumers are using debit cards to avoid accruing debt (creditkarma.com, July 27, 2019). Based on a sample of 100 U.S. consumers, a researcher finds that the average amount spent annually on a debit card is $7,790. Assume that the population standard deviation is $500.
a. At 99% confidence, what is the margin of error?
b. Construct the 99% confidence interval for the population mean amount spent annually on a debit card.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
a For the 99 confidence int...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Business Statistics Communicating With Numbers
ISBN: 9781260716306
4th Edition
Authors: Sanjiv Jaggia, Alison Kelly
Question Posted:
Students also viewed these Business questions
-
U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790 (Kiplingers, August 2007). Assume that...
-
The average life expectancy for Bostonians is 78.1 years (The Boston Globe, August 16, 2010). Assume that this average was based on a sample of 50 Bostonians and that the population standard...
-
The file DVD Movies.xlsx contains a large data set of 10,000 customer transactions for a fictional chain of video stores in the United States. Each row corresponds to a different customer and lists...
-
Which model can be selected if user is involved in all the phases of Software Development Life Cycle?Prototyping Model a OWaterfall Model b OSpiral model cORapid Application Development Model . . d...
-
Does current GAAP require that the information on the income statement be reported in chronological order with the most recent year listed first, or is the reverse order acceptable aswell?
-
An investor must decide between two alternative investmentsstocks and bonds. The return for each investment, given two future economic conditions, is shown in the following payoff table: What...
-
Do analytical efforts, big data examinations, and textual analyses impact compliance and fraud deterrence? Provide an explanation for your opinion.
-
1. Which arguments should be given more weight: those based on company policy, the employee handbook, and the labor agreement, or mitigating factors given by the grievant and his witnesses? Explain....
-
Two years after the first round XMP GmbH receives a second offer form B-Capital. B-Capital offers to invest 12,500,000.00 at a 60,000,000.00 pre-money valuation. What is the founders' post-round...
-
Sweet Tooth Candy Company sells candy boxes for local fundraisinggroups. Here are the actual and budgeted results for a local fundraiser: Sweet Tooth Candy Company Data Actual number of boxes sold...
-
Residents of Hawaii have the longest life expectancies, averaging 81.3 years (travelandleisure.com, July 16, 2018). A sociologist collects data on the age at death for 50 recently deceased Michigan...
-
According to a survey, 44% of adults admit to keeping money secrets from a partner (cnbc.com, February 20, 2020). Suppose this survey was based on 1,000 respondents. a. Compute the 90% confidence...
-
Mark, who is single, must start making distributions from his pension plan beginning April 1, 2017. At the end of 2016 when Mark was 71 years old, the plan had a balance of $220,000. He will use a...
-
1. b) By factoring solve for 0, 0 0 360: 2 sin 0-sin-1=0 a) Solve for x by factoring and check one of your answers: 6x 2 = X 2
-
Enumerate the Different components of a bacterial cell and give its functions and explain it
-
Fair Access to Insurance Requirements (FAIR) plans are designed to assist which one of the following types of individuals with his or her insurance needs?
-
What is produced by photosynthesis?
-
A DNA fragment of 2000 base pairs (bp) in length is subjected to double digestion with two restriction enzymes, EcoRI and Hindill. EcoRI cuts the DNA at a specific recognition sequence, generating...
-
In 1994, Mr. and Mrs. Adams formed ADC by transferring $50,000 cash in exchange for 100 shares of common stock and a note from the corporation for $49,000. The note obligated ADC to pay 10 percent...
-
The packaging division of a company having considered several alternative package designs for the company's new product has finally brought down their choices to two designs of which only one has to...
-
In its 2000 and 2009 Annual Reports, Nike, Inc. reported the following net revenues, in millions of dollars, in four distinct regions of the world: In a report, use the sample information to: 1....
-
When reviewing the overall strength of a particular firm, financial analysts typically examine the net profit margin. This statistic is generally calculated as the ratio of a firms net profit after...
-
The following table lists a portion of U.S. life expectancy (in years) for the 50 states; the entire data set, labeled Life_Expectancy, can be found on the text website. In a report, use the sample...
-
You may recall that the definition of an inner product of two functions, f(x) and g(x) on the domain x = = [0, 1] is 0 a(x) O (5.9) = f(x)g(x)dr. b(x) 0 c(x) 0 d(x) 0 f(x) 0 0.5 10 0.5 1 0 0.5 1 0...
-
The manufacturing process had been receiving several complaints coming from the onsite employees. To identify the source of the problem, the RDC conducted a research by creating a questionnaire. One...
-
Identify 3 key challenges, problems, and / or issues facing the focal company / industry. Discuss / demonstrate how concepts from the assigned readings can help us solve / understand each of the...
Study smarter with the SolutionInn App