Solution) A gift shop is interested in charges made by credit card customers. The owner wants an estimate of t
Question: A gift shop is interested in charges made by credit card customers. The owner wants an estimate of the mean purchase amount for credit card customers that are within $1.00 of the actual population mean. The standard deviation is estimated at $4.75.
a. How large a sample is necessary for a 98% confidence level?
b. If the gift shop owner used a sample of 100 credit card customers what is the maximum tolerable error?
Price: $2.99
Solution: The solution file consists of 1 page
Deliverables: Word Document![](/images/msword.png)
Deliverables: Word Document
![](/images/msword.png)