Confidence interval estimate of population total value

Reference no: EM13106020

A stationery store wants to estimate the total retail value of the 300 greeting cards that it has in its inventory. What are the upper and lower limits of the 95% confidence interval estimate of the population total value of all greeting cards that are in inventory if a random sample of 20 greeting cards indicates an average value of $1.67 and a standard deviation of $0.32?

a) $457.52 and $544.48

b) $465.08 and $536.92

c) $460.29 and $541.72

d) $457.67 and $544.33

Reference no: EM13106020

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