In a poll of 1009 U.S. adults of age 18 years and older, conducted December 47, 2008,
Question:
a. Determine a 95% upper confidence bound for the mean amount spent on Christmas gifts in 2008. (Note: The sample mean and sample standard deviation of the data are $639.00 and $477.98, respectively.)
b. Interpret your result in part (a).
c. In 2007, the mean amount spent on Christmas gifts was $833. Comment on this information in view of your answer to part (b).
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