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Math Help - Confidence Interval

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    Confidence Interval

    A major department store chain is interested in estimating the mean amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results: x = $50.50 and S = 20. Construct a 95% confidence interval for the mean amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.
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  2. #2
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    Re: Confidence Interval

    Quote Originally Posted by lilbit View Post
    A major department store chain is interested in estimating the mean amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results: x = $50.50 and S = 20. Construct a 95% confidence interval for the mean amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.
    how many standard deviations about the mean is a 95% confidence interval?
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