Find confidence interval for true mean advertising expense

Reference no: EM13153709

Suppose that a random sample of 25 retail merchants from all of the 5000 merchants in a large city yielded a sample mean advertising expense for the past year of $1,250. If the annual advertising expenditures are known to be normally distributed and the standard deviation of the population (σ) is $750, what would be the 95% confidence interval for the true mean advertising expense?

Reference no: EM13153709

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