A 95 confidence interval estimate for the difference


The management of a department store is interested in estimating the difference between the mean credit purchases of customers using the store's credit card versus those customers using a national major credit card. You are given the following information.

Store's Card

Sample size 64

Sample mean $140

Population standard deviation $10

Major Credit Card

Sample size 49

Sample mean $125

Population standard deviation $8

a. At 95% confidence, the margin of error is how much?

b. A 95% confidence interval estimate for the difference between the average purchases of all customers using the two different credit cards is?

PLEASE SHOW WORK

Solution Preview :

Prepared by a verified Expert
Business Management: A 95 confidence interval estimate for the difference
Reference No:- TGS02519078

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)