A marketing researcher wants to estimate the mean amount spent ($) on certain retail website by members of the website's premium program. A random sample of 93 members of the website's premium program who recently made a purchase on the website yielded a mean of $1200 and a standard deviation of $150. Complete parts (a) and (b) below. C a. Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. Sus (Round to two decimal places as needed.)

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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A marketing researcher wants to estimate the mean amount spent ($) on a certain retail website by members of the website's premium program. A random sample of 93 members of the website's
premium program who recently made a purchase on the website yielded a mean of $1200 and a standard deviation of $150. Complete parts (a) and (b) below.
a. Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program.
|5με
(Round to two decimal places as needed.)
Transcribed Image Text:A marketing researcher wants to estimate the mean amount spent ($) on a certain retail website by members of the website's premium program. A random sample of 93 members of the website's premium program who recently made a purchase on the website yielded a mean of $1200 and a standard deviation of $150. Complete parts (a) and (b) below. a. Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. |5με (Round to two decimal places as needed.)
Expert Solution
Step 1: We have given that

n=93,x¯=1200,s=150

C.I=95%=0.95

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