Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
TradeLine, is an online stock-trading service. To estimate the average number of trades made last month by TradeLine's clients, you take a simple random sample
TradeLine, is an online stock-trading service. To estimate the average number of trades made last month by TradeLine's clients, you take a simple random sample of 25 clients and find the average number of trades in the sample is 42.7. Since you do not know the population standard deviation, you calculate the sample standard deviation as 11.6. Assume that the population is normally distributed. Show the appropriate 99% confidence interval for the average number of trades for all of TradeLine's clients. Please post an Initial Comment by sharing your answer with the class and by discussing one or more of the following topics: 1. What was your method for solving this problem? Please describe parts of your method that might be helpful to your classmates 2. To what extent and in what ways do you feel that solving this type of problem is useful for an MBA student
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started