A Random Sample of 100 Credit Sales in a Department

question 136

Essay

A random sample of 100 credit sales in a department store showed an average sale of $120.00.From past data, it is known that the standard deviation of the population is $40.00.
a.
Determine the standard error of the mean.
b.
With a .95 probability, determine the margin of error.
c.
What is the 95% confidence interval of the population mean?

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Definitions:

Reverse Stock Split

A corporate action that reduces the number of a company's outstanding shares by combining them into a smaller number of shares.

Stock Price

The cost of purchasing a share of a company in the stock market, which fluctuates based on supply and demand, company performance, and market conditions.

Share Repurchases

A process by which a company buys back its own shares from the market, reducing the amount of outstanding stock.

Tax Considerations

The implications of tax laws and regulations on financial decisions and transactions.