Confidence interval for the true mean

Reference no: EM1322508

Confidence interval for the true mean.

Suppose that a random sample of 25 retail merchants from all of the 5000 merchants in a large city yielded a mean advertising expense for the past year of $1,250. If the annual advertising expenditures are known to be normally distributed and the standard deviation of the population is $750, what would be the 95% confidence interval for the true mean advertising expense?

Reference no: EM1322508

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