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A department store wants to know what fraction of its customers in a certain market have store credit cards, and what their average balance might
A department store wants to know what fraction of its customers in a certain market have store credit cards, and what their average balance might be. Of the 120 customers surveyed, 30 had store credit cards. Amongst those customers, the average balance was $600, with a sample standard deviation of $80. Find 98% confidence intervals for the proportion with credit cards and for the average balance.
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