For the 25 and over sample, purchase amounts average $ 146.30 with a standard deviation of $

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For the 25 and over sample, purchase amounts average $ 146.30 with a standard deviation of $ 27.00.
a. Build and interpret the 95% confidence interval estimate appropriate here.
b. Suppose only 8 customers were included in each sample. Revise your interval and discuss the differences.
c. For part b, what population assumptions did you make?
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Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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