A Random Sample of 100 Credit Sales in a Department

question 42

Short Answer

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 0.95 probability, determine the margin of error.
c.What is the 95% confidence interval of the population mean?

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Definitions:

Challenge

A task or situation that requires a person to engage in effortful processing to overcome obstacles.

Threat

A declaration or implication of intent to inflict harm or loss on others.

Adrenal Enlargement

An increase in the size of the adrenal glands, which can be due to various conditions and may affect hormone production and release.

Thymus

A small organ in the immune system where T lymphocytes mature and differentiate.