Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. The makers of a soft drink want to identify the average age of its consumers. A sample of 25 consumers was taken. The average

. The makers of a soft drink want to identify the average age of its consumers. A sample of 25 consumers was taken. The average age in the sample was 33 years with a sample standard deviation of 4.5 years. Please answer the following questions:

a. Construct a 95% confidence interval estimate for the mean of the consumers' age.

b. Suppose a sample of 31 was selected (with the new mean age of 32 years and the same sample standard deviation). Construct a 95% confidence interval for the mean of the consumers' age.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Fundamentals Of Business Mathematics In Canada

Authors: F. Ernest Jerome, Jackie Shemko

3rd Edition

1259370151, 978-1259370151

More Books

Students also viewed these Mathematics questions