The manager of a home improvement store wishes to estimate the mean amount of money spent in
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The manager of a home improvement store wishes to estimate the mean amount of money spent in the store. The estimate is to be within $4.00 with a 95% level of confidence. The manager does not know the standard deviation of the amounts spent. However, he does estimate that the range is from $5.00 up to $155.00. How large of a sample is needed?
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Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-1259666360
17th edition
Authors: Douglas A. Lind, William G Marchal
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