Question: Question 5: (20 points) (A) A major store is interested in estimating the mean amount its credit card customers spent on their first visit to

Question 5: (20 points)

(A) A major store is interested in estimating the mean amount its credit card customers spent on their first visit to the chain's new store. Sixteen credit card accounts (n=16) were randomly sampled and analyzed with the following results: (Mean = 43.5) and Standard deviation = $ 18 (SD = 18)

Construct a 95% confidence interval for the mean amount its credit card customers spent on their first visit to the chain's new store.

Interpret the results (the interval) you got.

(B) A quality control engineer is interested in estimating the proportion of defective items coming off a production line. In a sample of 250 items, 34 are defective.

Find the 95% confidence interval for the proportion of defectives from this production line

Interpret the results (the interval) you got.

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