Question
A random sample of 20 recent weddings in a country yielded a mean wedding cost of $26,390.62. Assume that recent wedding costs in this country
A random sample of 20 recent weddings in a country yielded a mean wedding cost of $26,390.62. Assume that recent wedding costs in this country are normally distributed with a standard deviation of $7700.
Complete parts (a) through (c) below.
Part 1
a. Determine a 95% confidence interval for the mean cost, , of all recent weddings in this country. The 95% confidence interval is from $22,947.0822,947.08 to $29,834.1629,834.16.
Part 2
b. Interpret your result in part (a). Choose the correct answer below.
A. We can be 95% confident that any randomly selected recent wedding cost in this country is somewhere within the confidence interval.
B. We can be 95% confident that the mean cost, , of all recent weddings in this country is somewhere within the confidence interval.
C. The mean cost, , of all recent weddings in this country is somewhere within the confidence interval.
D. We can be 95% confident that the sample cost of recent weddings in this country is somewhere within the confidence interval.
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