A Sample of Holiday Shoppers Is Taken Randomly from a Local

Question 88
Essay

A sample of holiday shoppers is taken randomly from a local mall.Forty-nine shoppers were selected and asked what their average spending on gifts would be during the entire holiday season.The point estimate of the population mean was calculated as $550 and the sample standard deviation was calculated as $92. a.Construct a 95% confidence interval of the population mean spending. b.Explain how the central limit theorem is used in constructing this interval.