Question
Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are
Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 670 dollars. Your advisor also tells you that, for the past 33 months, the scheme had incomes with an average value of 701 dollars and a standard deviation of 98 dollars. (a) Createa 95% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.)
(b) Based on this confidence interval, should you invest in this scheme?
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