A Major Department Store Chain Is Interested in Estimating the Mean

question 40

Multiple Choice

A major department store chain is interested in estimating the mean 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: X = $50.50 and S = 20. Construct a 95% confidence interval for the mean amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.

• A) $50.50 ± $9.09
• B) $50.50 ± $10.12
• C) $50.50 ± $11.00
• D) $50.50 ± $11.08

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Definitions:

Moving Ahead

The process of progressing forward or advancing in personal, professional, or emotional aspects of one's life.

Fear

A negative feeling stemming from the perception that a person or object poses a risk, potentially leading to harm or danger.

Blind Pane

Part of the Johari Window model, referring to information that is known to others but not to oneself.

Self-disclosing

The act of sharing personal information, thoughts, or feelings with others, as a way to foster intimacy, trust, and understanding in relationships.