The marketing department has asked the accounting and finance department to assist them in estimating the average amount spent on retail purchases by customers using the stores VISA reward card. The department needs a number by the upcoming meeting next week. Thus ten randomly chosen credit card accounts are selected and yield the following average amount spent by the customer: $25, $68, $150, $78, $63, $18, $250, $45, $102, $78.

Create a 95% confidence interval on the average amount of money spent by customers on the stores VISA reward credit card.

Select the correct answer and enter the letter corresponding to the correct answer into the answer box. For example, if you think the correct answer is D, then enter D in the answer box.

A. 36.54 196.32

B. 31.25 141.28

C. 38.70 136.70

D. 38.15 118.43

Create a 95% confidence interval on the median amount of money spent by customers on the stores VISA reward credit card.

Select the correct answer and enter the letter corresponding to the correct answer into the answer box. For example, if you think the correct answer is D, then enter D in the answer box.

A. 36.54 196.32

B. 31.25 141.28

C. 38.70 136.70

D. 38.15 118.43

How large of sample is needed to be accurate within +/- 25 dollars for the amount spent on the Visa?

A. 16

B. 54

C. 29

D. 35

Your initial sample size used for the confidence interval is adequate.

True

False