Valuation of Inventory

eBook (PDF), 4 Pages
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"A stationery store wants to estimate the mean retail value of greeting cards that it has in its inventory. A random sample of 100 greeting cards indicates a mean value of $2.55 and a standard deviation of $0.44. a. Assuming a normal distribution, construct a 95% confidence interval estimate of the mean value of all greeting cards in the store’s inventory. b. Suppose there were 2,500 greeting cards in the store’s inventory. How are the results in (a) useful in assisting the store owner to estimate the total value of her inventory? "
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Product Details

April 11, 2013
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743.92 KB
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Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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