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A random sample of 10 parking meters in a beach community showed the following incomes for a day. Assume the incomes are normally distributed. $3.60$4.50$2.80$6.30$2.60$5.20$6.75$4.25$8.00$3.00
A random sample of 10 parking meters in a beach community showed the following incomes for a day. Assume the incomes are normally distributed.
$3.60$4.50$2.80$6.30$2.60$5.20$6.75$4.25$8.00$3.00
a) Find a 90% confidence interval for the incomes of all parking meters in the beach community.
b) Notice that most of the incomes above are NOT in the confidence interval. Explain why we don't expect them to be in the interval by explaining what the confidence interval is estimating.
Need work shown when applicable.
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