Questions
BRED001 Week 7 Practice Quiz
True/False
A random sample of 10 VISA cardholder accounts revealed a sample mean debt of $1,120 with a sample standard deviation of $340. Construct a 95% per cent confidence interval estimate of the average debt of all cardholders. This calculation can not be performed
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Step-by-Step Analysis
The prompt presents a true/false statement about constructing a 95% confidence interval for the average debt.
First, recognize that with n = 10 and the standard deviation given as s = 340, we should treat the population standard deviation as unknown. Therefore, the appropriate method is to use a ......Login to view full explanationLog in for full answers
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