Question

Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 transactions at random, she found that the average amount spent was $ 35.25 35.25 . She then computed a 95 95 % confidence interval to be between $ 31.84 31.84 and $ 38.66 Which statement gives a valid interpretation of the interval? The store manager is 95% confident that the average amount spent by the 36 sampled customers is between S31.84 and $38.66. There is a 95% chance that the mean amount spent by all customers is between $31.84 and $38.66. O There is a 95% chance that a randomly selected customer will spend between $31.84 and $38.66. The store manager is 95% confident that the average amount spent by all customers is between $31.84 and S3866

Answer 1

Answer: The managers statment would most likely give the valid interpretation.

Step-by-step explanation: If the store manager is 95% confident that the average amount spent was between $31.84 and $38.66. Then the store manager is most likey correct so I would have to say I agree with the manager. This may be a tricky question at first, but look at the problem from a different perspective. I am very sorry if this happens to be wrong.