# Statistics

posted by .

A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results: x = \$50.50 and s2 = 400. A 95% confidence interval for the average amount the credit card customers spent on their first visit to the chain's new store in the mall is:
a. \$50.50 ± \$11.00
b. \$50.50 ± \$9.09
c. \$50.50 ± \$11.79
d. \$50.50 ± \$10.12
e. \$50.50 ± \$11.08

• Statistics -

95% = mean ± 1.96SEm

SEm = s/√n

s = √(s^2)

I'll let you do the calculations.

• Statistics -

10.12

• Statistics -

\$50.50+-11.08\$

## Similar Questions

1. ### statistics help

The branch manager of an outlet (Store 1) of a nationwide chain of pet supply stores wants to study characteristics of her customers. In particular, she decides to focus on two variables: the amount of money spent by customers and …
2. ### English

I had to rewrite sentences so that there were no longer fragments are they correct?
3. ### com155

I recently decided to apply for a credit card. I have absolutly no credit. When I received my new credit card I was extremely excited. I thought I was going to be responsible with my new credit card but I was not. The first thing I …

From industry statistics, a credit card company knows that 0.8 of its potential card holders are good credit risks, and 0.2 are bad credit risks. The company uses discriminant analysis to screen credit card applicants and determine …
5. ### Accounting

Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 3% charge on sales for using its card. On June 28, Hankco had \$4,500 in Omni Card credit sales. What entry should Hankco make on June 28 to record …
6. ### Statistics

At 100 college campuses, 1200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they didn't have a credit card in their own name, and 23% reported that they had at least one …
7. ### Statistics

A bank is testing a new method for getting delinquent customers to pay their past-due credit card bills. The standard way was to send a letter (costing about \$0.45) asking the customer to pay. That worked 30% of the time. The bank …
8. ### Statistics

A bank is testing a new method for getting delinquent customers to pay their past-due credit card bills. The standard way was to send a letter (costing about \$0.45) asking the customer to pay. That worked 30% of the time. The bank …