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    Confidence interval estimate for the population mean

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    An auditor for a large oil corporation has taken a random sample of monthly credit card charges for 32 individual (non-corporate) accounts. She found a mean of $81.76. Assume that the population standard deviation is 48.2. A 98% confidence interval estimate for the population mean of individual credit card charges would be.
    a. 81.76 ± 19.89
    b. 81.76 ± 16.72
    c. 81.76 ± 112.94
    d. 81.76 ± 22.0

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    Solution Preview

    An auditor for a large oil corporation has taken a random sample of monthly credit card charges for 32 individual (non-corporate) accounts. She found a mean of $81.76. Assume that the population standard deviation is 48.2. A 98% confidence interval estimate for the population mean of individual credit card ...

    Solution Summary

    Calculates a 98% confidence interval estimate for the population mean of individual credit card charges.

    $2.19

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