Answered step by step
Verified Expert Solution
Question
1 Approved Answer
42credit card holders are selected at random.For each, their current credit card balance is recorded.The average for these 42 people is= $600.Assume that the current
42credit card holders are selected at random.For each, their current credit card balance is recorded.The average for these 42 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 foris found to be $600 34.6.Find the standard deviationof the population?
Please also explain how to find z score from the a/2 = 0.07350. I am not understanding how to find the z score too.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started