Question: Q4) A marketing study found that the mean spending in consumer items for 297 respondents was $91.86 with a population standard deviation of $50.9.

Q4) A marketing study found that the mean spending in consumer items

Q4) A marketing study found that the mean spending in consumer items for 297 respondents was $91.86 with a population standard deviation of $50.9. Develop 95% and 99% confidence intervals for the mean spending amounts this group. What conclusion can you draw? Use the formula in Ch 6 for Confidence Interval when population standard deviation is known.

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