Redo question 27, parts (a) and (b), this time assuming the population standard deviation is unknown. Use
Question:
Redo question 27, parts (a) and (b), this time assuming the population standard deviation is unknown. Use MINITAB.
Question 27
A bank manager finds from reviewing her records that the amount of money deposited on Saturday morning is normally distributed with a standard deviation of $150. A random sample of 7 customers reveals the following amounts deposited on Saturday morning:
$825 $972 $311 $1,212 $150 $1,800 $725
(a) Find a 95 % confidence interval for the mean amount of deposits by using the MINITAB program.
(b) Find a 90 % confidence interval for the mean amount of deposits by using MINITAB gain. Compare your answer to the confidence interval you computed in part (a). Which is larger?
Step by Step Answer:
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee