a random sample of 64 credit sales in a department store showed an average sale of $150.00.

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a random sample of 64 credit sales in a department store showed an average sale of $150.00. from past data, it is known that the standard deviation of the population is $25.00

a) what is the standard error of the sample mean (that is, the standard deviation of the sample mean)?

b) with a 0.95 confidence level, what is the margin of error?

c) what is the 95% confidence interval of the population mean?

d) calculate the appropriate sample size for a margin error of $10 and a 95% confidence level?

Related Book For answer-question

Statistics for Business and Economics

ISBN: 978-0132930192

8th edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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Posted Date: May 24, 2020 02:11 PM

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a random sample of 64 credit sales in a department store showed an average sale of $150.00.

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Statistics for Business and Economics

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