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You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your
You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 11 customers and find that the average dollar amount spent per transaction per customer is $109.736 with a standard deviation of $12.7455. Create a 99% confidence interval for the true average spent for all customers per transaction. ( 1) ( 105.893 , 113.579 ) ( 2) (97.557 , 121.915 ) 3) ( 106.567 , 112.905 ) ( 4) ( 97.8 , 121.672 ) ( 5) (-97.557 , 121.915 )
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