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A major department store chain is interested in estimating the mean amount its credit card customers...

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Basic Math

A major department store chain is interested in estimating themean amount its credit card customers spent on their first visit tothe chain’s new store in the mall. Fifteen credit card accountswere randomly sampled and analyzed with the following results: X =$50.50 and S = 20. Assuming that the amount spent follows a normaldistribution, construct a 95% confidence interval for the meanamount its credit card customers spent on their first visit to thechain’s new store in the mall. assuming that the amount spentfollows a normal distribution.

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