CAN SOMEONE HELP ME FIGURE OUT THE "LOWER LIMIT" AND "UPPER LIMIT" ? For a study conducted by the research department of a pharmaceutical company, 215randomly selected individuals were asked to report the amount of money they spend annually on prescription allergy relief medication. The sample mean was found to be $17.70 with a standard deviation of $5.50. A random sample of 295 individuals was selected independently of the first sample. These individuals reported their annual spending on non-prescription allergy relief medication. The mean of the second sample was found to be $18.30 with a standard deviation of $4.20. As the sample sizes were quite large, it was assumed that the respective population standard deviations of the spending for prescription and non-prescription allergy relief medication could be estimated as the respective sample standard deviation values given above. Construct a 90% confidence interval for the difference μ1-μ2 between the mean spending on prescription allergy relief medication (μ1) and the mean spending on non-prescription allergy relief medication (μ2). Then find the lower limit and upper limit of the 90% confidence interval. CARRY YOUR INTERMEDIATE COMPUTATIONS TO AT LEAST 3 DECIMAL PLACES.ROUND YOUR ANSWER TO AT LEAST 2 DECIMAL PLACES
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
CAN SOMEONE HELP ME FIGURE OUT THE "LOWER LIMIT" AND "UPPER LIMIT" ?
For a study conducted by the research department of a pharmaceutical company, 215randomly selected individuals were asked to report the amount of money they spend annually on prescription allergy relief medication. The sample mean was found to be $17.70 with a standard deviation of $5.50. A random sample of 295 individuals was selected independently of the first sample. These individuals reported their annual spending on non-prescription allergy relief medication. The mean of the second sample was found to be $18.30 with a standard deviation of $4.20. As the sample sizes were quite large, it was assumed that the respective population standard deviations of the spending for prescription and non-prescription allergy relief medication could be estimated as the respective sample standard deviation values given above. Construct a 90% confidence interval for the difference μ1-μ2 between the mean spending on prescription allergy relief medication (μ1) and the mean spending on non-prescription allergy relief medication (μ2). Then find the lower limit and upper limit of the
confidence interval.
CARRY YOUR INTERMEDIATE COMPUTATIONS TO AT LEAST 3 DECIMAL PLACES.ROUND YOUR ANSWER TO AT LEAST 2 DECIMAL PLACES
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
