Question: I am confused on how to answer this problem and where to begin with it 8-2 a. Suppose that you took a random sample of

I am confused on how to answer this problem and where to begin with it

8-2 a. Suppose that you took a random sample of 100 accounts in large department-store chain, and found that the mean balance due was $74, and the standard deviation was $86. Find the 95% confidence interval for the mean balance due. (Since the sample is so large, the population standard deviation o can be safely approximated with the sample standard deviation s = $86.) b. If there were 243,000 accounts altogether, find a 95% confidence interval for the total balance due. Briefly explain to the vice president the meaning of your

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