Question: Previous Problem Problem List Next Problem In a sample of credit card holders the mean monthly value of credit card purchases was $ 221 and

Previous Problem Problem List Next Problem In a sample of credit card holders the mean monthly value of credit card purchases was $ 221 and the sample variance was 87 ($ squared). Assume that the population distribution is normal. Answer the following, rounding your answers to two decimal places where appropriate. (a) Suppose the sample results were obtained from a random sample of 12 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders. (b) Suppose the sample results were obtained from a random sample of 25 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders. Before you answer (b) consider whether the confidence interval will be wider than or narrower than the confidence interval found for (a). Then check that your answer verifies this. Note: You can earn partial credit on this

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