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Category > Accounting Posted 01 May 2017 My Price 7.00

U.S. consumers are increasingly viewing debit cards

U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790 (Kiplinger's, August 2007). Assume that this average was based on a sample of 100 consumers and that the population standard deviation is $500.

 

a. At 99% confidence, what is the margin of error?

b. Construct a 99% confidence interval of the population mean amount spent annually on a debit card.

 

Answers

Alpha Geek
(8)
Status NEW Posted 01 May 2017 10:05 AM My Price 7.00

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Attachments

file 1493634731-2233127_1_636291913164283244_99--condince-interval.xlsx preview (128 words )
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