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A random sample of 90 observations produced a mean x?=

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 4E Chapter 6

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 4E

Problem 4E

A random sample of 90 observations produced a mean x̄= 25.9 and a standard deviation s= 2.7.

a. Find an approximate 95% confidence interval for the population mean μ.

b. Find an approximate 90% confidence interval for μ.

c. Find an approximate 99% confidence interval for μ.

Step-by-Step Solution:

Answer:

Step 1 of 3:

         Given,

a). To find an approximate 95% confidence interval for the population mean

     For confidence coefficient 0.95, and

         (using the standard normal table, the z value for 95% CI is 1.96)

        That is,

      The confidence interval is

               

            

               

               (25.34, 26.46)

    Therefore, the confidence interval is (25.34, 26.46).


Step 2 of 3

Chapter 6, Problem 4E is Solved
Step 3 of 3

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

Statistics for Business and Economics was written by and is associated to the ISBN: 9780321826237. The full step-by-step solution to problem: 4E from chapter: 6 was answered by , our top Business solution expert on 07/21/17, 05:42AM. Since the solution to 4E from 6 chapter was answered, more than 700 students have viewed the full step-by-step answer. This full solution covers the following key subjects: approximate, confidence, interval, ind, mean. This expansive textbook survival guide covers 15 chapters, and 1631 solutions. The answer to “A random sample of 90 observations produced a mean x?= 25.9 and a standard deviation s= 2.7.a. Find an approximate 95% confidence interval for the population mean ?.b. Find an approximate 90% confidence interval for ?.c. Find an approximate 99% confidence interval for ?.” is broken down into a number of easy to follow steps, and 44 words. This textbook survival guide was created for the textbook: Statistics for Business and Economics , edition: 12.

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A random sample of 90 observations produced a mean x?=