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Estimation

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"Hockey-r-us," a store specializing in sales of hockey equipment, wants to find out the average age of all its customers. A random sample of 25 customers reveals an average age of 38 years with a standard deviation of six years. It determines a 95% confidence interval of the average age of all customers.

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An Estimation scenario is solved.

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Step 1. In order to answer this problem you will first have to calculate the standard error the mean, knowing that N (the number of subjects)= 25, the mean=38, and the σ (standard deviation) = 6.
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<br>The formula for the ...

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