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8.2 Confidence Interval for Mean Toby wants to know the average price of new cars at a particular dealearship. He randomly selects a sample of
8.2 Confidence Interval for Mean Toby wants to know the average price of new cars at a particular dealearship. He randomly selects a sample of 37 cars and finds that the average price to be $16300 with a standard deviation of $1940. What is the 90% confidence interval for the mean price of cars at this particular dealership? a.) Which distribution table will be used to find the critical value and why?
- t-table because the population standard deviation is unknown
- Z-table because the population standard deviation is unknown
- t-table because the population standard deviation is known
- Z-table because the population standard deviation is known
b.) With 90% confidence, we can say the true population mean price of cars at this dealership is between $*** and $** .
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