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Posted: **Mon Nov 15, 2021 11:03 am**

: Example 7 5 Jed Home Stores Credit Card Purchases Study Jed Home Stores Analysed The Value Of Purchases Made On Credit C 1 (21.92 KiB) Viewed 73 times

: Example 7 5 Jed Home Stores Credit Card Purchases Study Jed Home Stores Analysed The Value Of Purchases Made On Credit C 2 (25.75 KiB) Viewed 73 times

Example 7.5 Jed Home Stores Credit Card Purchases Study Jed Home Stores analysed the value of purchases made on credit card by a random sample of 25 of their credit card customers. The sample mean was found to be R170. with a sample standard deviation of R22. (a) Estimate, with 95% confidence, the actual mean value of credit card purchases by all their credit card customers. (b) Assume that 46 credit card purchases were sampled. Set 95% confidence limits for the actual mean value of credit card purchases at this home store (o is unknown).

Example 7.5 Jed Home Stores Credit Card Purchases Study Jed Home Stores analysed the value of purchases made on credit card by a random sample of 25 of their credit card customers. The sample mean was found to be R170, with a sample standard deviation of R22. (a) Estimate , with 95% confidence, the actual mean value of credit card purchases by all their credit card customers. (b) Assume that 46 credit card purchases were sampled. Set 95% confidence limits for the actual mean value of credit card purchases at this home store (o is unknown). Solution