To calculate: and interpret a 99% confidence interval for the mean amount charges would have increased if this benefit had been extended to all such customers.
Answer to Problem 10.42E
(312.2972, 351.7028)
There is 99% confident that the mean amount charged has increased between
Explanation of Solution
Given:
Formula used:
For Confidence intervals
Calculation:
For confidence level
The margin of error is then:
Confidence intervals are
There is 99% confident that the mean amount charged has increased between
Chapter 10 Solutions
Statistics Through Applications
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