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On Tuesday after Thanksgiving, a market research firm took a simple random sample of 300 City College students. On average, the students in the sample spent $250 on Black Friday, with standard deviation $54. It was found that 168 of the students in the sample had made at least on internet purchase on Cyber Monday.
a) Find a 95% confidence interval for the average amount spent by all City College students on Black Friday.
b) Find a 90% confidence interval for the percentage of all City College students who made at least one internet purchase on Cyber Monday.
Compute the value of t. What is your decision regarding the null hypothesis?
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