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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 $37.85. She then computed a 99% confidence interval to be between $32.89 and $42.81. Which statement gives a valid interpretation of the interval? The store manager is 99% confident that the average amount spent by all customers is between $32.89 and $42.81. O There is a 99% chance that the mean amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that a randomly selected customer will spend between $32.89 and $42.81. The store manager is 99% confident that the average amount spent by the 36 sampled customers is between $32.89 and S

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 $37.85. She then computed a 99% confidence interval to be between $32.89 and $42.81. Which statement gives a valid interpretation of the interval? The store manager is 99% confident that the average amount spent by all customers is between $32.89 and $42.81. O There is a 99% chance that the mean amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that a randomly selected customer will spend between $32.89 and $42.81. The store manager is 99% confident that the average amount spent by the 36 sampled customers is between $32.89 and S

MATLAB: An Introduction with Applications
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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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 $37.85. She then computed a 99% confidence interval to be between $32.89 and $42.81. Which statement gives a valid interpretation of the interval? The store manager is 99% confident that the average amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that the mean amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that a randomly selected customer will spend between $32.89 and $42.81. The store manager is 99% confident that the average amount spent by the 36 sampled customers is between $32.89 and $ 42.81.
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 $37.85. She then computed a 99% confidence interval to be between $32.89 and $42.81. Which statement gives a valid interpretation of the interval? The store manager is 99% confident that the average amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that the mean amount spent by all customers is between $32.89 and $42.81. There is a 99% chance that a randomly selected customer will spend between $32.89 and $42.81. The store manager is 99% confident that the average amount spent by the 36 sampled customers is between $32.89 and $ 42.81.
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