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A sample of 20 international students attending an urban U.S. university found that the average amount budgeted for expenses per month was $1612.50 with a
A sample of 20 international students attending an urban U.S. university found that the average amount budgeted for expenses per month was $1612.50 with a standard deviation of $1179.64 Find a 95% confidence interval for the mean monthly expense budget of the population of international students. Use the appropriate formula and verify your result using the Confidence Intervals workbook
Confidence Interval for Population Mean, Standard Deviation Known | |
Alpha | 0.05 |
Standard deviation | 15 |
Sample size | 25 |
Sample average | 796 |
Confidence Interval | 95% |
Error | 5.879892 |
Lower | 790.1201 |
Upper | 801.8799 |
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