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https:/ www.mathxl.com Student/Player Test aspx?testld 151701458&centerwin; yes 172BUS207.920 Business Statistics Spring 2017 Test Ch. 8 Test This Question: 1 pt 5 of 15 (0 complete v Construct a 90% confidence interval to estimate the population mean using the data below. 20 40 The 90% confidence interval for the population mean is Round to two decimal places as needed.) Enter your answer in each of the answer boxes. 400 zachary hicks I 3/31/17 7:54 PM Time Remaining: 01:52:19 Submit Test This Test: 15 pts possible EQuestion Help

Explanation / Answer

Solution:

The formula for confidence interval is given as below:

Confidence interval = Xbar -/+ Z*/sqrt(n)

We are given

Xbar = 60,

Population standard deviation = = 20

Sample size = n = 40

Confidence level = 90%

Critical Z value = 1.6449 (By using normal table or excel)

Confidence interval = 60 -/+ 1.6449*20/sqrt(40)

Confidence interval = 60 -/+ 5.2015

Lower limit = 60 – 5.2015 = 54.7985

Upper limit = 60 + 5.2015 = 65.2015

Confidence interval = (54.80, 65.20)

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