Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 transactions at random, she found that the average amount spent was $35.25. She then computed a 95% confidence interval to be between $31.84 and $38.66. Which statement gives a valid interpretation of the interval? There is a 95% chance that the mean amount spent by all customers is between $31.84 and $38.66. The store manager is 95% confident that the average amount spent by the 36 sampled customers is between $ 31.84 and $38.66. There is a 95% chance that a randomly selected customer will spend between $31.84 and $38.66. The store manager is 95% confident that the average amount spent by all customers is between $31.84 and $38.66
Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 transactions at random, she found that the average amount spent was $35.25. She then computed a 95% confidence interval to be between $31.84 and $38.66. Which statement gives a valid interpretation of the interval? There is a 95% chance that the mean amount spent by all customers is between $31.84 and $38.66. The store manager is 95% confident that the average amount spent by the 36 sampled customers is between $ 31.84 and $38.66. There is a 95% chance that a randomly selected customer will spend between $31.84 and $38.66. The store manager is 95% confident that the average amount spent by all customers is between $31.84 and $38.66
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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![Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After
sampling 36 transactions at random, she found that the average amount spent was $35.25. She then computed a 95%
confidence interval to be between $31.84 and $38.66.
Which statement gives a valid interpretation of the interval?
There is a 95% chance that the mean amount spent by all customers is between $31.84 and $38.66.
The store manager is 95% confident that the average amount spent by the 36 sampled customers is between $
31.84 and $38.66.
There is a 95% chance that a randomly selected customer will spend between $31.84 and $38.66.
The store manager is 95% confident that the average amount spent by all customers is between $31.84 and $38.66.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc3fe6dd8-518f-408d-8599-a4c1cae5bfc8%2F3eee8fee-f864-4791-a7d9-a0035a7c5ba2%2Fmsumfzd_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After
sampling 36 transactions at random, she found that the average amount spent was $35.25. She then computed a 95%
confidence interval to be between $31.84 and $38.66.
Which statement gives a valid interpretation of the interval?
There is a 95% chance that the mean amount spent by all customers is between $31.84 and $38.66.
The store manager is 95% confident that the average amount spent by the 36 sampled customers is between $
31.84 and $38.66.
There is a 95% chance that a randomly selected customer will spend between $31.84 and $38.66.
The store manager is 95% confident that the average amount spent by all customers is between $31.84 and $38.66.
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