Statistics homework 9.2

. The accompanying data represent the total travel tax (in dollars) for a 3-day business trip in 8 randomly selected cities. A normal probability plot suggests t Print could come from a population that is normally distributed. A boxplot indicates there are no outliers. Complete parts (a) through (c) below. 68.28 79.08 68.56 83.92 80.68 86.25 101.83 99.12 6 Click the icon to view the table of critical t-values. (a) Determine a point estimate for the population mean travel tax. A point estimate for the population mean travel tax is $ (Round to two decimal places as needed.) (b) Construct and interpret a 95% confidence interval for the mean tax paid for a three-day business trip. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) O A. The travel tax is between $ and $ for % of all cities. O B. One can be % confident that the mean travel tax for all cities is between $ and $ O C. One can be % confident that the all cities have a travel tax between $ and $ O D. There is a % probability that the mean travel tax for all cities is between $ and $ (c) What would you recommend to a researcher who wants to increase the precision of the interval, but does not have access to additional data? O A. The researcher could increase the level of confidence. O B. The researcher could decrease the sample standard deviation. O C. The researcher could decrease the level of confidence. O D. The researcher could increase the sample mean. 6: Table of Critical t-Values Area in right tail t-Distribution Area in Right Tail Degrees of Freedom 0.25 0.20 0.10 0.05 0.025 0.02 0.01 0.005 0.0025 0.001 0.0005 1.000 1.376 1.963 3.078 6.314 12.706 15.894 128'TE 63.657 12732 318.309 636.619 0.816 1.061 1.386 1.886 2.920 4.303 4.849 6.96 9.925 14.089 22.327 31.599 0.765 0.978 1.250 1.638 2.353 3.182 3.482 4.541 5.841 7453 10.215 12.924 0.741 0.941 1.190 1.533 2132 2.776 2.990 3.74 4.604 5.598 7173 8.610 0.727 0.920 1.156 1476 2.015 2.571 2.757 3.36 4.032 4.773 5.893 6.869 0.718 0.906 1.134 1.440 1.043 2.447 2 612 3.143 3.707 4317 5.208 0.711 0.896 1.119 1.415 2.365 2.517 2.998 3.49 4.029 4.785 5.408 0.706 0.889 1.108 1.397 1.860 2.306 2.449 2.896 3.355 3.833 4.50 5.041 0.703 0.883 1.100 1.383 2.262 2.398 2.821 3.250 3.690 4 207 4.781 10 0.700 0.879 1.093 1.372 1.812 2.228 2.359 2.764 3.160 3.581 4.144 4 587 0.697 0.876 1.088 1363 1.796 2.201 2.328 2.718 3.106 3.497 4.025 4.437 0.695 0.873 1.083 1.356 2.179 2.303 2.681 3.055 3.428 3.930 4.318 0.694 0.870 1.079 1.350 2.160 2.282 3.012 3.372 3.852 4.221 0.692 0.868 1.076 1.345 2.145 2.264 2.624 2.977 3.326 3.787 4.140 0.691 0.866 1341 2.131 2.249 2.602 2.947 3.286 3.733 4.073 0.690 0.865 1.071 1.337 2.120 2.235 2 58 2.921 3.252 3.686 4.015 0.689 0.863 1.069 1.333 1,740 2.110 2.224 2.56 2.898 3.222 3.646 3.965 0.688 0.862 1.067 1.330 2.101 2.214 2.552 3.197 3.610 3.922 0.68 0.86 1.066 1.328 1.729 2.093 2.205 2.53 3.174 3.579 3.883 0.687 0.860 1.064 1.325 1,725 2.086 2.197 2.528 2.845 3.153 3.55 3.850 0.686 0.859 1.063 1323 1.721 2.080 2.189 2.518 2.831 3.135 3.52 3.819 0.686 0.858 1.061 1.321 2.074 2.183 2.506 3.119 3.505 3.792 0.685 0.858 1.060 1.319 1,714 2.069 2.177 2.500 2.807 3.104 3.485 3.768 0.685 0.857 1.059 1.318 1.711 2.064 2.172 2.492 2.797 3.091 3.467 3.745 0.684 0.856 1.058 1.316 1.708 2.060 2.167 2.485 2.787 3.078 3.450 3.725 0.684 0.856 1.058 1315 2.056 2.162 2.479 3.067 3.435 3.707 0.684 0.85 1.057 1.314 1.703 2.052 2.158 2.473 2.771 3.057 3.421 3.690 0.683 0.855 1.056 1.313 2.048 2.154 2.467 2.763 3.047 3.408 3.674 0.683 0.854 1.055 1.311 2.045 2.462 2.756 3.038 3.39 3.659 0.683 0.854 1.055 1.310 2.042 2.147 2.457 2.750 3.030 3.385 3.646 0.682 0.85 1.054 1.309 2.040 2.144 2.453 2.744 3.022 3.37 3.633 0.68 0.85 1.054 1.309 2.037 2.141 2.440 2.738 3.015 3.36 3.622 0.682 0.853 1.053 1308 1692 2.035 2.138 2.445 2.733 3.008 3.356 3.611 0.682 0.852 1.052 1307 2.032 2.136 2.441 2.728 3.002 3.34 3.601 0.68 0.852 1.052 1.306 1.690 2.030 2.133 2.438 2.724 2.996 3.34 3.591 0.68 0.85 1.052 1.306 2.028 2.131 2.434 2.719 2.990 3.33 3.582 0.681 0.851 1.051 1305 2.026 2.129 2.431 2.715 2.985 3.326 3.514 0.68 0.85 1.051 1.304 2.024 2.127 2.429 2.712 2.980 3.319 3.566 0.681 0.85 1.050 1304 1.685 2.023 2.125 2.426 2.708 2.976 3.313 3.558 0.681 0.85 1.050 1.303 2.021 2.123 2.423 2.704 2.971 .307 3.551 0.679 0.849 1.047 1.299 1.676 2.009 2.109 2.403 2.937 3.261 3.496 0.679 0.848 1.045 1296 1.671 2.000 2.099 2.390 2.660 2.915 3.232 3.460 0.678 0.847 1.044 1294 1.667 1.994 2.093 2.381 2.648 2.890 3.211 3.435 0.678 0.846 1.043 1.292 1.990 2.088 2.374 2.639 2.887 3.195 3.416 90 0.677 0.846 1.042 1291 1.987 2.084 2.368 2.632 2.878 3.183 3.402 100 0.677 0.845 1042 1290 1.660 1.984 2.081 2.364 2.626 2.871 3.174 3.390 1006 0.675 0.842 1.037 1.282 1.646 1.962 2.056 2.330 2.581 2.813 3.098 3.300 0.674 0.842 1.036 1282 1.645 1.960 2.054 2 326 2.576 2.807 3.090 3.291 Degrees of 0.25 0.20 0.15 0.10 0.05 0.025 0.02 0.01 0.005 0.0025 0.001 0.0005 Freedom t-Distribution Area in Right Tail 12. The trade volume of a stock is the number of shares traded on a given day. The data in the first accompanying table, in millions (so that 6.16 represents 6, 160,000 shares traded), represent the volume of a PepsiCo stock traded for a random sample of 38 trading days in 2018. A second random sample of 38 days in 2018 resulted in the data in the second accompanying table. Complete parts (a) through (d). Click here to view the data for sample 1. Click here to view the data for sample 2.8 Click here to view the table of critical t-values.9 (a) Use the data from sample 1 to compute a point estimate for the population mean number of shares traded per day in 2018. A point estimate for the population mean number of PepsiCo shares traded per day in 2018 is million. (Round to two decimal places as needed.) (b) Using the data from sample 1, construct a 95% confidence interval for the population mean number of shares traded per day in 2018. Interpret the confidence interval Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) O A. One can be % confident that the population mean number of shares of PepsiCo stock traded per day in 2018 is between million and million. B. The number of shares of PepsiCo stock traded per day is between million and million for % of all days in 2018. O C. There is a % probability that the population mean number of shares of PepsiCo stock traded per day in 2018 is between million and million. O D. One can be % confident that the number of shares of PepsiCo stock traded in all days of 2018 is between million and