Lands End wants to determine the average age of customers who purchase products through its catalog sales

Question:

Land’s End wants to determine the average age of customers who purchase products through its catalog sales department. The company has contacted a simple random sample of 5 customers, with the following results:

Assume the population distribution of customer ages is normal. 

a. Compute the sample average, x, and the sample standard deviation, s. 

b. Show the 90% confidence interval estimate of the average age of this customer population.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

Question Posted: