A credit card company takes a random sample of 100 cardholders to see how much they charged

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A credit card company takes a random sample of 100 cardholders to see how much they charged on their card last month. Here's a histogram.

A computer program found that the resulting 95% confidence interval for the mean amount spent in March 2011 is (-$28,366.84, $90,691.49). Explain why the analysts didn't find the confidence interval useful, and explain what went wrong.

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Stats Data And Models

ISBN: 662

4th Edition

Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock

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Question Posted: Jan 20, 2016 06:06 AM

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A credit card company takes a random sample of 100 cardholders to see how much they charged

Question:

80 60 40 20 0 500,000 500,000 2,500,000 March 2005 Charges

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