Confidence interval for the mean age

Reference no: EM131008872

1. For the ages in Exercise 1:

a) Construct a 95% confidence interval for the mean age of all customers, assuming that the assumptions and condi- tions for the confidence interval have been met.

b) How large is the margin of error?

c) How would the confidence interval change if you had assumed that the standard deviation was known to be 10.0 years?

2. For the purchase amounts in Exercise 2:

a) Construct a 90% confidence interval for the mean pur- chases of all customers, assuming that the assumptions and conditions for the confidence interval have been met.

b) How large is the margin of error?

c) How would the confidence interval change if you had assumed that the standard deviation was known to be $20?

Reference no: EM131008872

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