marketing researcher wants to estimate the mean amount spent (S) on a certain retail website by members of the website's premium program. A random sample of 94 members of the website's premium program who recently made a purchase n the website yielded a mean of S1300 and a standard deviation of $350. Complete parts (a) and (b) below. .Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. ]sus] Round to two decimal places as needed.) Interpret the interval constructed in (a). hoose the correct answer below. OA. 95% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval. OB. The sample mean spending in 95% of all samples of 94 members of the website's premium program will be between the lower and upper limits of the confidence interval. OC. There is a 95% probability that mean spending in dollars for all shoppers who are members of the website's premium program between the lower and upper limits of the confidence interval. O D. With 95% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.
marketing researcher wants to estimate the mean amount spent (S) on a certain retail website by members of the website's premium program. A random sample of 94 members of the website's premium program who recently made a purchase n the website yielded a mean of S1300 and a standard deviation of $350. Complete parts (a) and (b) below. .Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program. ]sus] Round to two decimal places as needed.) Interpret the interval constructed in (a). hoose the correct answer below. OA. 95% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval. OB. The sample mean spending in 95% of all samples of 94 members of the website's premium program will be between the lower and upper limits of the confidence interval. OC. There is a 95% probability that mean spending in dollars for all shoppers who are members of the website's premium program between the lower and upper limits of the confidence interval. O D. With 95% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Transcribed Image Text:A marketing researcher wants to estimate the mean amount spent ($) on a certain retail website by members of the website's premium program. A random sample of 94 members of the website's premium program who recently made a purchase
on the website yielded a mean of $1300 and a standard deviation of $350. Complete parts (a) and (b) below.
...
a. Construct a 95% confidence interval estimate for the mean spending for all shoppers who are members of the website's premium program.
(Round to two decimal places as needed.)
b. Interpret the interval constructed in (a).
Choose the correct answer below.
A. 95% of all shoppers who are members of the website's premium program have spent an amount in dollars that is between the lower and upper limits of the confidence interval.
B. The sample mean spending in 95% of all samples of 94 members of the website's premium program will be between the lower and upper limits of the confidence interval.
C. There is a 95% probability that mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.
D. With 95% confidence, the mean spending in dollars for all shoppers who are members of the website's premium program is between the lower and upper limits of the confidence interval.
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