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Problem 7: (4 points) A researcher wants to estimate the mean amount of money spent online by consumers in a particular market. She samples 16

Problem 7: (4 points) A researcher wants to estimate the mean amount of money spent online by consumers in a particular market. She samples 16 consumers and finds that they spend on average $854 online with a standard deviation of $152. Construct a 99% confidence interval estimate of the mean amount of money spent online.

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