Clarification of confidence interval for mean

Assignment Help Basic Statistics

Reference no: EM13105591

A random sample of 81 credit sales in a department store showed an average sale of $68.00. Historically, it is known that the standard deviation of the population is $27.00. a) determine the standard error of the mean, b) with a 0.95 probability, what can be said about the margin of error and c) what is the 95% confidence interval of the population mean?

Reference no: EM13105591

Questions Cloud

Confidence interval estimation : A group of 47 randomly selected students have a mean score of 20.2 with a standard deviation of 4.6 on a placement test. Construct a 90% confidence interval for the mean score, , of all students taking the test.

Goods want transporting in the opposite direction : Presume you are the owner driver of a truck, which transports vegetables overnight from the farmers in Florida to the markets in Atlanta.

How americans lives changed due to red scare : Themes of anti-communism preoccupied American media from 1947 to 1954. Main topics included coup in Czechoslovakia, Korean War. How Americans lives changed due to Red Scare

Explain why might there be so much variability : Explain why might there be so much variability among the proportion of sales versus profitability contributed by each of the businesses? Does this mean that Syco is more successful in its insurance business than in its retail bu

Clarification of confidence interval for mean : A random sample of 81 credit sales in a department store showed an average sale of $68.00. Historically, it is known that the standard deviation of the population is $27.00.

Proportion of registered voters in the state : A newspaper conducted a statewide survey concerning a proposal to raise taxes to prevent budget cuts to education. The newspaper took a random sample (assume it is an SRS) of 1200 registered voters and found that 580 would vote to raise taxes. Let..

Illustrate what might be the effects in terms of such right : If a contract involves a sale or lease of software that can be delivered and accessed, online, illustrate what might be the effects in terms of such rights and remedies as cure, cover, repletion and reclaiming goods?

Recommendation for network : You have been hired by a small new web design firm to set up a network for its single office location. The network is primarily needed for exchanging files, accessing and managing beta websites on its web server, and connecting to the Internet.

What are various groups that identifies as well as the goals : Start with the Org Level. Recognise the Outputs - what does it produce and sell? What are its goals? How has it been performing? Then go the group level.

User Account

All Pages