A marketing researcher wants to estimate the mean amount spent ($) on Amazon.com by Amazon Prime member
Question:
A marketing researcher wants to estimate the mean amount spent ($) on Amazon.com by Amazon Prime member shoppers. Suppose a random sample of 100 Amazon Prime member shoppers who recently made a purchase on Amazon.com yielded a mean of $1,500 and a standard deviation of $200.
a. Construct a 95% confidence interval estimate for the mean spending for all Amazon Prime member shoppers.
b. Interpret the interval constructed in (a).
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a PHStat output Confidence Interval Estimate for the Mean b You can be 95 confident that the po...View the full answer
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Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan
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