Construct a 95 confidence interval estimate of the total

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Reference no: EM13637415

A branch of a chain of large electronics stores is constructing an end of month inventory of the merchandise in stock. There were 1,637 items in inventory at that time. A sample of 40 items was randomly selected, and an audit was conducted, with the following results.

Value of merchandise = X= $247.41 S= $93.08

Construct a 95% confidence interval estimate of the total value of the merchandise in inventory at the end of the month.

Reference no: EM13637415

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