The standard deviation of population sigma is 750 what

Reference no: EM13471290

Suppose that a random sample of 25 retail merchants from all of the 5,000 merchants in a large city yielded a mean advertising expense (x¯) 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 formula would you use to determine the 95% confidence interval for the true mean advertising expense?

F = s12 ÷ s22

x¯ - t(s ÷ √n) < µ < x¯ + t(s ÷ √n)

z = (x - µ) ÷ σ

x¯ - z(σ ÷ √n) < µ < x¯ + z(σ ÷ √n)

Reference no: EM13471290

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