#8 A random sample of 20 purchases showed the amounts in the table(in $). The mean is...
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#8
A random sample of 20 purchases showed the amounts in the table(in $). The mean is $49.32 and the standard deviation is $20.43.
a) Construct a 80% confidence interval for the mean purchases of allcustomers, assuming that the assumptions and conditions for the confidence interval have been met.
b) How large is the margin oferror?
c) How would the confidence interval change if you had assumed that the population standard deviation was known to be $21?
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