Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A random sample of 20 purchases showed the amounts in the table (in $). The mean is $50.02 and the standard deviation is $19.84. 20.65

image text in transcribed
A random sample of 20 purchases showed the amounts in the table (in $). The mean is $50.02 and the standard deviation is $19.84. 20.65 49.09 72.90 a) Construct a 90% confidence interval for the mean purchases of all customers, assuming that the assumptions and conditions for the confidence interval have been met. 3 29.35 33.46 b) How large is the margin of error? 81.87 20.48 35.27 c) How would the confidence interval change if you had assumed that the population standard deviation was known to be $20? 65.23 59.40 56.09 45.99 50.38 58.22 8 52.76 79.78 28.98 32.81 a) What is the confidence interval? (42.35 , 57.69 (Round to two decimal places as needed.) b) What is the margin of error? The margin of error is 7.67 (Round to two decimal places as needed.) c) What is the confidence interval using the given population standard deviation? Select the correct choice below and fill in the answer boxes within your choice. (Round to two decimal places as needed.) O A. The new confidence interval ( 42.66 , 57.37 ) is narrower than the interval from part a. O B. The new confidence interval ( ) is wider than the interval from part a

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Maximum Principles And Geometric Applications

Authors: Luis J AlĂ­as, Paolo Mastrolia, Marco Rigoli

1st Edition

3319243373, 9783319243375

More Books

Students also viewed these Mathematics questions

Question

This shows a(n)

Answered: 1 week ago