Math Solutions

[Step-by-Step] A random sample of 100 credit sales in a department store showed an average sale of $120.00. From past data, it is known that the standard deviation

Question: A random sample of 100 credit sales in a department store showed an average sale of $120.00. From past data, it is known that the standard deviation of the population is $40.00.

  1. Determine the standard error of the mean.
  2. With a 0.95 probability, determine the margin of error.
  3. What is the 95% confidence interval of the population mean?

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