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    Confidence interval for mean

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    A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 195 was taken, and the mean amount spent was $182.25. Assuming a standard deviation equal to $42.16, find the 95% confidence interval for m, the mean for all such families (show all work).

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    Solution Summary

    Step by step method for computing confidence interval for mean.