A Major Department Store Chain Is Interested in Estimating the Average

question 45

Multiple Choice

A major department store chain is interested in estimating the average amount its credit card customers spent. Fifteen credit card accounts were randomly sampled and analyzed with the following results: = $50.50 and = 400. Which of the following is a 95% confidence interval for the average amount the credit card customers spent?

• 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:

Longer Term Implications

Consequences or effects of actions or decisions that become apparent or have an impact over an extended period.

Organisational Loyalty

The commitment of employees to the goals, values, and success of their organization, often resulting in higher productivity and job satisfaction.

Expense Report

A financial document that details the expenditures incurred during business operations or activities.

Personal Entertainment

Activities or products designed to provide amusement or enjoyment to individuals in their personal time.