A Major Department Store Chain Is Interested in Estimating the Mean

question 59

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: 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 if 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:

Statement of Cash Flows

A financial report that provides aggregate data regarding all cash inflows and outflows a company receives.

Exchange

A marketplace where securities, commodities, derivatives, and other financial instruments are traded between buyers and sellers.

Land

A non-depreciable asset that typically refers to the solid surface of the earth that a business owns and uses for business purposes.

Operating Activities

Activities that relate directly to the operation of a company, including production, sales, and day-to-day business functions.