A major department store chain is interested in estimating t…
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. Using this sample the estimated population mean is $50.50 and the estimated population variance is 400. Assuming the distribution of the amount spent on their first visit is approximately normal, what is the shape of the sampling distribution of the sample mean that will be used to create the desired confidence interval for μ?
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