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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola
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Confidence Interval with known ?. In Exercise, find the

Chapter 7, Problem 37BSC

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QUESTION:

Confidence Interval with Known \(\sigma\) . In Exercises 35–38, find the confidence interval using the known value of \(\sigma\) .

Construct the confidence interval for Exercise 11 assuming that \(\sigma\) is known to be 7718.8 thousand dollars.

Equation Transcription:

Text Transcription:

sigma

sigmasigma

Questions & Answers

QUESTION:

Confidence Interval with Known \(\sigma\) . In Exercises 35–38, find the confidence interval using the known value of \(\sigma\) .

Construct the confidence interval for Exercise 11 assuming that \(\sigma\) is known to be 7718.8 thousand dollars.

Equation Transcription:

Text Transcription:

sigma

sigmasigma

ANSWER:

Answer:

Step 1 of 2

The sample data meet the loose requirement of having a normal distribution

SL. No

x

(x -

1

17688

22944100

2

0.001

166358378.2

3

19629

45306361

4

12408

240100

5

14765

3485689

Sum

64490

238334628.2

Average

12898

The sample mean of the variable is the sum of observed values in a data divided by the number of observations.

Mean  =

              =  

              =  12898

Standard deviation is calculated as the square root of average of squared deviations taken from actual mean. It is also called root mean square deviation.

  =  6904.123

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