A credit card company wants to estimate the average length of client churn (turning over their...
A credit card company wants to estimate the average length of client churn (turning over their card for a different one). In a sample of 5000 customers obtained at random from the company’s database, the mean churn is 418. The standard deviation of the calls from that sample is 93. Provide the mean and SD of the distribution of this sample.
Homework Answers
(1)
The mean of the distribution of this sample = Population mean =
= 418.
So,
Answer is:
418
(2)
The mean and SD of the distribution of this sample is given by:
So,
Answer is:
1.3152
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