To compute location measures and confidence interval for the given data.
The Stop N Go convenience chain recently selected a random sample of 10 customers.
The store monitored the number of times each customer made a buy at the store over a two-month period. The following data were collected:
10 19 17 19 12 20 20 15 16 13
Store executives are considering a promotion in which they reward frequent purchasers with a small gift. They have decided that they will only give gifts to those shoppers whose number of visits in the past two-month period is above the mean plus 1 standard deviation. Find out the minimum number of visits required to receive a gift.
MEAN = 161/10 = 16.1
The minimum number of visits necessary to receive a gift is 19.6 rounded up = 20.