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 $300. Complete parts (a) and (b) below. Question content area bottom Part 1 a. Construct a 99% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. enter your response here≤μ≤enter (Round to two decimal places as needed.) Part 2 b. Interpret the interval constructed in (a). Choose the correct answer below. A.With 99% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval. B.99% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval. C.There is a 99% probability that mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval. D.The sample mean spending in 99%of all samples of 97members of the website's premium program will be between the lower and upper limits of the confidence interval.
estimate the mean amount spent ($) 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.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
Related questions
Question
A marketing researcher wants to estimate the
Complete parts (a) and (b) below.
Question content area bottom
Part 1
a. Construct a
interval estimate for the mean spending for all shoppers who are members of the website's premium program.
99%
confidence 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.
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