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Construct a confidence interval

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The manager of a store wants to estimate the population mean dollar amount spent per purchasing customer. He took a random sample of 49 purchasing customers and found a sample mean of $94.70. Assume that the population standard deviation is known to be $8.50.

Show workings, where appropriate, to support your answers in each of the following.

Question a) Construct a 95% confidence interval.

Question b) Interpret your confidence interval.

Question c) Without doing any additional calculations and given the information as provided above, would the width of a 90% confidence interval be the same, narrower or wider than the width of the 95% interval constructed in part a)? Briefly explain your choice.

Reference no: EM132644942

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