Question
Suppose you would like to estimate the mean amount of money (u) spent on books by CSIS students in a semester. You have the following
Suppose you would like to estimate the mean amount of money (u) spent on books by CSIS students in a semester. You have the following data from 30 randomly selected CSIS students: Xbar = $274 and s = $47. Assume that the amount you spent on books by CSIS students is normally distributed.
a) Compute a 80% confidence interval
b) is there evidence at a 5% level of significance that the mean amount of money spent on books by CSIS students in a semester is less than $282?
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
