Question
A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past data, it is known that the
A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past data, it is known that the standard deviation of the population is $27.00.
a.Determine the standard error of the mean.
b.With a 0.99 probability, what can be said about the size of the margin of error?
c.What is the 99% confidence interval of the population mean?
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Climate Mathematics Theory And Applications
Authors: Samuel S P Shen, Richard C J Somerville
1st Edition
1108750184, 9781108750189
