Question
The manager of a retail store is interest in knowing if his customers are making relatively large purchases. He has random sampled 25 customers from
The manager of a retail store is interest in knowing if his customers are making relatively large purchases. He has random sampled 25 customers from the past 3 months and found that he averages sales for these receipts is $72.17 with a standard deviation of $12.06 assuming the sales total from all the customers over the past 3 months are normally distributed a 95% confidence interval for the average sales total all of his customers from the past 3 months is ($67.19,$77.15) based on the given interval can we conclude at 5% significant level that the average sales total for all of his customers from the past 3 months is different from $80
a. Yes since the value $80 falls outside the confidence interval
b yes since the average from his sample was different $80
c. No since the value $80 falls outside of the confidence interval
d. No since the value $72.17 falls inside the confidence interval
e none of the above
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