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Mathematics, 19.07.2020 14:01 elliswilliams4189
US consumers are increasingly using debit cards as a substitute for cash and checks. From a sample of 100 consumers, the average amount annually spent on debit cards is $7,790. Assume that this average was based on a sample of 100 consumers and that the population standard deviation is $500.
A. At 99% confidence, what is the margin of error?
B. Construct the 99% confidence interval for the population mean amount spent annually on a debit card.
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