A Major Electronics Store Chain Is Interested in Estimating the Average

question 55

Multiple Choice

A major electronics store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall.Fifteen credit card accounts were randomly sampled and analyzed with the following results: $\bar { x }$ = $50.50 and s² = 400.A 95% confidence interval for the average amount the credit card customers spent on their first visit to the chain's new store in the mall is:

• A) $50.50 -$9.09.
• B) $50.50 - $10.12.
• C) $50.50 - $11.08.
• D) None of these choices.

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Definitions:

Kerala, India

A state located in the southwestern part of India, known for its significant achievements in human development, health, and education.

Malthusian Trap

A condition, proposed by Thomas Malthus, where excessive population growth leads to resource depletion, resulting in population checks through famine, disease, or war, preventing long-term societal advancement.

Population Growth

The increase in the number of individuals in a population, often measured by birth rate minus death rate, and influenced by factors like immigration and emigration.

Rural Community

A community located in non-urban areas, typically characterized by small populations, agriculture-based economies, and strong social ties.