Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accompanying data represent the total travel tax(in dollars) for a3-day business trip in 8 randomly selected cities. A normal probability plot suggests the data

The accompanying data represent the total travel tax(in dollars) for a3-day business trip in 8 randomly selected cities. A normal probability plot suggests the data could come from a population that is normally distributed. A boxplot indicates there are no outliers. Complete parts(a) through(c) below.

67.62

78.21

69.36

83.35

80.37

86.46

101.23

98.82

LOADING...

Click the icon to view the table of criticalt-values.

(a) Determine a point estimate for the population mean travel tax.

A point estimate for the population mean travel tax is $

83.17

83.17.

(Round to two decimal places asneeded.)

(b) Construct and interpret a 95% confidence interval for the mean tax paid for athree-day business trip.

Select the correct choice

(Round to two decimal places asneeded.)

A.

One can be

nothing

% confident that the mean travel tax for all cities is between $

nothing

and$

nothing

.

B.

There is a

nothing

% probability that the mean travel tax for all cities is between $

nothing

and $

nothing

.

C.

The travel tax is between $

nothing

and $

nothing

for

nothing

% of all cities.

D.

One can be

nothing

% confident that the all cities have a travel tax between $

nothing

and $

nothing

.

(c) What would you recommend to a researcher who wants to increase the precision of theinterval, but does not have access to additionaldata?

A.

The researcher could increase the sample mean.

B.

The researcher could decrease the level of confidence.

C.

The researcher could increase the level of confidence.

D.

The researcher could decrease the sample standard deviation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inquiry into Physics

Authors: Vern J. Ostdiek, Donald J. Bord

8th edition

1305959426, 9781337515863 , 978-1305959422

Students also viewed these Economics questions