A random sample of 100 credit sales in a department store showed an average sale of $120.00. From past data, it is known that the standard deviation of the population is $40.00.a.Determine the standard error of the mean.b.With a 0.95 probability, determine the margin of error.c.What is the 95% confidence interval of the population mean?

Standard error is calculated by dividing the standard deviation and sample size. It measure the…

Answered: A random sample of 100 credit sales in…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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a.	Determine the standard error of the mean.
b.	With a 0.95 probability, determine the margin of error.
c.	What is the 95% confidence interval of the population mean?