You are given the sample mean and the population standard deviation. Use this in

Question

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient use technology to construct the confidence intervals. A random sample of 50 home boater systems has a moan price of $144.00. Assume the population standard deviation i $19 20. Construct a 90% confidence interval for the population mean. The 90% confidence interval is (). (Round to two decimal places as needed.) Construct a 95% confidence interval for the population mean. The 96% confidence interval is () (Round to two decimal places as needed.) Interpret the results Choose the correct answer below. A. With 90% confidence at can be sad that the population mean price lies in the first interval With 9t% confidence it can be said that the population mean price lies in the second interval. The 95% confidence interval is wide

Explanation / Answer

here std error of mean =std deviaiton/(n)1/2 =2.7153

for 90% CI ; z=1.645

therefore 90% confidence interval =sample mean -/+ z*std error =139.53 ; 148.47

for 95% CI ; z=1.96

therefore 95% confidence interval =sample mean -/+ z*std error =138.68 ; 149.32

option A is correct

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.