Business, 06.03.2020 23:58 orcawave9408

A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past data, it is known that the standard deviation of the populationσ is $27.00. a. Determine the standard error of the mean. What is the 95% confidence interval for the population mean? b. Assume that the same sample average sale was obtained from a random sample of 100 credit sales. What is the 95% confidence interval for the population mean? c. What is the effect of a larger sample size on the margin of error (E)

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A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past...

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