Mathematics, 14.04.2020 22:19 zaytoohypes
A random sample of 64 credit sales in a department store showed an average sale of $75.00. From past data, it is known that the standard deviation of the population of sales is $24.00.
1. Construct the 96% confidence interval for the population mean and provide the lower and upper bound of the confidence interval.
2. Assume that the information about average sales was lost. You decided to repeat the study and collect information for another sample. This time you obtain a random sample of 400 sales which accidentally resulted in the same average sale of $75.00. Construct the 96% confidence interval for the population mean and provide the lower and upper bound of the confidence interval.
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A random sample of 64 credit sales in a department store showed an average sale of $75.00. From past...
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