Based on past data, the sample mean of the credit card purchases at a large department...

50.1K

Verified Solution

Question

Statistics

Based on past data, the sample mean of the credit card purchasesat a large department store is $45. Assuming sample size is 25 andthe sample standard deviation is 9.
a) Â Â Â Â Â Â Â Â What % ofsamples are likely to have between 25 and 35?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â _____
b) Â Â Â Â Â Â Â Between what twovalues 95% of sample meansfall?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â _
c)Â Â Â Â Â Â Â Â Â Belowwhat value 98% of sample meansfall?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â _
d)Â Â Â Â Â Â Â Â Above whatvalue only5% of sample meansfall??Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â _____
Within what symmetrical limits of the population percentage will95% of the sample percentages fall?

Answer & Explanation Solved by verified expert

4.2 Ratings (551 Votes)

SOLUTIONFrom given dataBased on pastdata the sample mean of the credit card purchases at a largedepartment store is 45 Assuming sample size is 25 and the samplestandard deviation is 9Sample size n 25Standard deviation 9Mean 45z x x 45 9a What ofsamples are likely to have between 25 and See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member