Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose the monthly cost of housing for a UNC student is a random variable with standard deviation equal to $130 dollars, however, we donEIt know
Suppose the monthly cost of housing for a UNC student is a random variable with standard deviation equal to $130 dollars, however, we donEIt know the mean. a) We choose 70 UNC students at random and calculate the average monthly housing cost for the group to be $620. Find a 99% confidence interval for the population mean u. Give your endpoints to 2 decimal places. 99% condence interval for monthly cost of housing: ($ E . 35 E) b) What is the margin of error for this confidence interval? Give your answer to two decimal places. new: c) How large a sample of UNC students would we have to poll in order for our 99% margin of error to be less than $20? Your answer should be an integer
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