Question: pls show how you solved it 1) A recent survey revealed that an American's Christmas spending averaged $830. Use this as the population mean American's
pls show how you solved it
1) A recent survey revealed that an American's Christmas spending averaged $830. Use this as the population mean American's Christmas spending. Suppose Americans' Christmas spending is normally distributed with a standard deviation of $220. A random sample of size 100 is selected from the population of American consumers.
What is the probability that the sample mean spending is less
than $815 or more than $855?
2) A poll was conducted by the marketing department of a video
game company to determine the popularity of a new game that was targeted to be
launched in three months. Telephone interviews with 1,500 young adults were
conducted which revealed that 49% said they would purchase the new game. The
margin of error was 3 percentage points.
What is the needed sample size to obtain a 95% confidence
interval estimate of the percentage of the targeted young adults who will
purchase the new game by allowing the same level of margin of error?
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