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April 28, 2015

Homework Help: RES 341

Posted by Meh on Saturday, October 16, 2010 at 12:15pm.

A sample of 300 is taken and the sample mean is computed to be 7.65 and the sample standard deviation is 5. Assume the data is ratio level.



Compute the 95% confidence interval on the mean.

Compute the 3.9% confidence interval on the mean

Which confidence interval is more practical and useful in a business situation? Why?

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