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StatisticsQ&A LibraryA survey of the mean number of cents off that coupons give was conducted by randomly surveying one coupon per page from the coupon sections of a recent San Jose Mercury News. The following data were collected: 20¢; 75¢; 50¢; 65¢; 30¢; 55¢; 40¢; 40¢; 30¢; 55¢; $1.50; 40¢; 65¢; 40¢. Assume the underlying distribution is approximately normal.Construct a 95% confidence interval for the population mean worth of coupons .What is the lower bound? ( Round to 3 decimal places )What is the upper bound? ( Round to 3 decimal places )What is the error bound? (Round to 3 decimal places)Question

Asked Nov 18, 2019

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A survey of the mean number of cents off that coupons give was conducted by randomly surveying one coupon per page from the coupon sections of a recent San Jose Mercury News. The following data were collected: 20¢; 75¢; 50¢; 65¢; 30¢; 55¢; 40¢; 40¢; 30¢; 55¢; $1.50; 40¢; 65¢; 40¢. Assume the underlying distribution is approximately normal.

Construct a 95% confidence interval for the population mean worth of coupons .

What is the lower bound? ( Round to 3 decimal places )

What is the upper bound? ( Round to 3 decimal places )

What is the error bound? (Round to 3 decimal places)

1 Rating

Step 1

From the given data, one of the data value is in dollars. So, first convert it into cents. That is, $1.50 = 150 cents.

Step-by-step procedure to find sample mean, standard deviation and sample size using Excel:

- In Excel sheet, enter
**Data**in one column. - In
**Data**, select**Data Analysis**and Choose**Descriptive Statistics**. - In
**Input Range**, select**Data**and click**Labels in First Row**. - Select
**Summary Statistics**. - Click
**OK**.

Output using Excel is shown below:

Step 2

From the output, the sample mean, standard deviation and sample size are 53.93, 31.63 and 14, respectively.

The formula for finding confidence interval for population mean is shown below:

Step 3

For 95% confidence level, the value of tα/2 = t0.05/2 at 13 (=14–1) degrees of freedom using t ...

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