A company wishes to estimate the average amount the customers pay per month. A random sample of 200 customers' bills produced a sample mean of $50. Suppose that the population standard deviation is known and equals $5. a) Find a 95% confidence interval for the population mean payment. A company wishes to estimate the average amount customers pay per month. A random sample of 200 customers' bills produced a sample mean of $50 and a sample standard deviation of $5. b) Without any calculations, do you expect that a 95% confidence interval for the population mean will be wider than in the previous question, or narrower, or the same? A company wishes to estimate the average amount customers pay per month. A random sample of 100 customers' bills produced a sample mean of $50 and a sample standard deviation of $5. c) Find a 95% confidence interval for the population mean.9 Take t*=1.980. The answers below may present approximate values
A company wishes to estimate the average amount the customers pay per month. A random sample of 200 customers' bills produced a sample mean of $50.
Suppose that the population standard deviation is known and equals $5.
a) Find a 95% confidence interval for the population mean payment.
A company wishes to estimate the average amount customers pay per month. A random sample of 200 customers' bills produced a sample mean of $50 and a sample standard deviation of $5.
b) Without any calculations, do you expect that a 95% confidence interval for the population mean will be wider than in the previous question, or narrower, or the same?
A company wishes to estimate the average amount customers pay per month. A random sample of 100 customers' bills produced a sample mean of $50 and a sample standard deviation of $5.
c) Find a 95% confidence interval for the population mean.9 Take t*=1.980. The answers below may present approximate values.
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