Question

Question 2 (1 point)

The owner of a local phone store wanted to determine how much customers are willing to spend on the purchase of a new phone. In a random sample of 15 phones purchased that day, the sample mean was $302.071 and the standard deviation was $27.9396. Calculate a 99% confidence interval to estimate the average price customers are willing to pay per phone.

Question 2 options:

	1) ( -280.596 , 323.546 )
	2) ( 280.596 , 323.546 )
	3) ( 280.811 , 323.331 )
	4) ( 294.857 , 309.285 )
	5) ( 299.094 , 305.048 )

Question 3 (1 point)

You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 12 customers and find that the average dollar amount spent per transaction per customer is $102.028 with a standard deviation of $15.1769. Create a 99% confidence interval for the true average spent for all customers per transaction.

Question 3 options:

	1) ( -88.421 , 115.635 )
	2) ( 98.922 , 105.134 )
	3) ( 88.421 , 115.635 )
	4) ( 88.643 , 115.413 )
	5) ( 97.647 , 106.409 )

Question 4 (1 point)

The owner of a local golf course wanted to determine the average age (in years) of the golfers that played on the course. In a random sample of 27 golfers that visited his course, the sample mean was 41.1 years old and the standard deviation was 5.19 years. Using this information, the owner calculated the confidence interval of (39, 43.2) with a confidence level of 95% for the average age. Which of the following is an appropriate interpretation of this confidence interval?

Question 4 options:

	1) We are 95% confident that the average age of the golfers surveyed is between 39 and 43.2 years old.
	2) We are 95% confident that the proportion of the ages of all golfers is between 39 and 43.2 years old.
	3) We cannot determine the proper interpretation of this interval.
	4) We are certain that 95% of the average ages of all golfers will be between 39 and 43.2 years old.
	5) We are 95% confident that the average age of all golfers that play on the golf course is between 39 and 43.2 years old.

Answer 1

Question 2

Question 3

Question 4

Answer : Option ( 1 )

We are 95% confident that the average age of the golfers surveyed is between 39 and 43.2 years old.