Question
An irate student complained that the cost of textbooks was too high. He randomly surveyed 36 other students and found that the mean amount of
- An irate student complained that the cost of textbooks was too high. He randomly surveyed 36 other students and found that the mean amount of money spent for textbooks was $121.60. If the standard deviation of the population was $6.36, find the 90% confidence interval of the true mean.
2. A researcher wishes to estimate within $300 the true average amount of money a country spends on road repairs each year. If she wants to be 90% confident, how large a sample is necessary?The standard deviation is known to be $900. ?
3. An irate student complained that the cost of textbooks was too high. He randomly surveyed 36 other students and found that the mean amount of money spent for textbooks was $121.60. If the standard deviation of the population was $6.36, find the best point estimate .
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
