estimate the mean amount spent ($) on a certain retail website by members of the website's premium program. A random sample of 97 members of the website's premium program who recently made a purchase on the website yielded a mean of $1900 and a standard deviation of $300. Complete parts (a) and (b) below. Question content area bottom Part 1 a. Construct a 99% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. enter your response here≤μ≤enter (Round to two decimal places as needed.) Part 2 b. Interpret the interval constructed in (a). Choose the correct answer below. A.With 99% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval. B.99% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval. C.There is a 99% probability that mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval. D.The sample mean spending in 99%of all samples of 97members of the website's premium program will be between the lower and upper limits of the confidence interval.

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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Question content area bottom

Part 1

a. Construct a

99%

confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program.

enter your response here≤μ≤enter (Round to two decimal places as needed.)

Part 2

b. Interpret the interval constructed in (a).

Choose the correct answer below.

A.With 99% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.

B.99% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval.

C.There is a 99% probability that mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.

D.The sample mean spending in 99%of all samples of 97members of the website's premium program will be between the lower and upper limits of the confidence interval.

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