Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1) In an effort to estimate the mean amount spent per household on leisure activities per year in a small Canadian town, data was collected
1) In an effort to estimate the mean amount spent per household on leisure activities per year in a small Canadian town, data was collected for a sample of 100 households. The sample showed an average of $8000 and a standard deviation of $2000 The 90% confidence interval estimate of the population mean amount spent is A) 7742 to 8258 dollars per year B) 7668 to 8332 dollars per year C) 7672 to 8328 dollars per year D) 7608 ti 8392 dollars per year E) none of the above 2) the 98% confidence interval estimate of the population mean amount spent is A) 7527 to 8473 dollars per year B) 7534 to 8466 dollars per year C) 7588 to 8412 dollars per year D) 7608 to 8392 dollars per year E) none of the above 3) if the data were collected for a sample of 50 households rather than 100, the 95% confidence interval estimate of the population mean amount spent would be A) 7331.36 to 8668.64 dollars per year B) 7445.63 to 8554.37 dollars per year C) 7274.00 to 8225.00 dollars per year D) 7431.49 to 8568.51 dollars per year E) none of the above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started