A market researcher selects a simple random sample of n = 100 customers from its population of

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A market researcher selects a simple random sample of n = 100 customers from its population of two million customers. After analyzing the sample, she states that she has 90% confidence that the mean annual income of its two million customers is between $70000 and $85000. Explain the meaning of this statement.

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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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