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Question: A department store wants to know what fraction of its customers in a certain market have store credit cards, and what their average balance might be.

Of the 120 customers surveyed, 30 had store credit cards. Amongst those customers, the average balance was $600, with a sample standard deviation of $80.

Find 98% confidence intervals for the proportion with credit cards and for the average balance.

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Category:- Basic Finance
Reference No.:- M92803718

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