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A random sample of 1B venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population standard
A random sample of 1B venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population standard deviation is $1.75 million, a 95% condence interval for the mean amount, p, of all venture-capital investments in this business sector is from $6.10 million to $7.71 million. Conditions for computing the condence interval are satised. Complete parts (a) through (d) below. (Note: The sum of the data is $124.27 million and the mean is $6.90 million.) Click here to View the investment data. Click here to View page 1 of the table of areas under the standard normal curve. Click here to view p_age 2 of the table of areas under the standard normal curve. a. Find a 90% condence interval for p. ' The 90% condence interval is from $ million to $ million. (Round to two decimal places as needec .) b. Why is the condence interval you found in part (a) shorter than the 95% condence interval? The V used in computing the condence interval found in part (a) is V the corresponding value for the 95% condence interval. \fd. Which condence interval yields a more accurate estimate of [1? Explain your answer. Y yields a more accurate estimate of p, since
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