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23 credit card holders are selected at random. For each, their current credit card balance is recorded. The average for these 23 people is= $600.
23 credit card holders are selected at random. For each, their current credit card balance is recorded. The average for these 23 people is= $600. Assume that the current balance of all credit card holders follows a normal distribution with unknown mean , and that a 85.3% confidence interval for is found to be $600 33.6. Find the standard deviation of the population?
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