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 26 customers and find that the average dollar amount spent per transaction per customer is $77.506 with a standard deviation of $11.0714. When creating a 99% confidence interval for the true average dollar amount spend per customer, what is the margin of error

Step-by-step explanation:

Hello!

The Confidence intervals for the population mean to follow the structure "point estimation"±" margin of error"

You as the store owner took a sample to determine the average amount of money a typical customer spends on your shop.

n= 26 customers.

X[bar]= $77.506

S= $11.0714

Assuming the variable X: the amount of money spent by a typical customer has a normal distribution and that there is no information about the population standard deviation, the best statistic to use for this estimation is a Students-t:

[X[bar] ± * ]

The margin of error of the interval is:

d= *

d= 6.051

I hope it helps!

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explanation

the graph has a slope of 1/3 because each time you move up 1, you go to the right 3. so, slope = rise/run = 1/3. we can cross choice a off the list since we want a slope of 3, rather than 1/3.

the first table shown has a slope of -3. this is because the rise is -6 and the run is 2, so slope = rise/run = -6/2 = -3. note how x increases by 2 each time (run) and y drops by 6 each time (rise). choice b can be eliminated.

the second table has a slope of 3. each time x goes up by 1, the y values increase by 3. slope = rise/run = 3/1 = 3. alternatively you can use the slope formula to prove that the slope is 3 here. use any two rows of values to generate the two points. choice c is one of the answers

the third table also has a slope of 3. let's use the slope formula to prove as such. i'm going to use the first two rows of the table. so i'll use the two points (2,1) and (5,10)

m = slope

m = (y2-y1)/(x2-x1)

m = (10-1)/(5-2)

m = 9/3

m = 3 so we get a slope of 3

choice d is the other answer

36/60

36/2=18

60/2=30

18/30

18/3=6

30/3=10

6/10

6/2=3

10/2=5

your final answer would be 3/5 of an

hope this !