The prices of a random sample of 20 new motorcycles have a sample standard devia

Question

The prices of a random sample of 20 new motorcycles have a sample standard deviation of $3900. Assuming the sample is taken from a normally distributed population and you are constructing a 98% confidence interval for estimating the population standard deviation, the left tail critical value is ____? The prices of a random sample of 20 new motorcycles have a sample standard deviation of $3900. Assuming the sample is taken from a normally distributed population and you are constructing a 98% confidence interval for estimating the population standard deviation, the left tail critical value is ____?

Explanation / Answer

n = 20, so degrees of freedom = 19

The confidence level is 98%

Left tail critical value = CHIINV(1 - 0.02/2, 20 - 1] = 7.6327

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