QUESTION 5 A recent study based on 25 families showed that the average cost of education, from primary to university, in the UAE is 365,000 AED with a standard deviation of 10,000 AED, Assuming that the costs of education are normally distributed, find the upper limit of the 97% confidence interval.

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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QUESTION 5
A recent study based on 25 families showed that the average cost of education, from primary to university, in the UAE
is 365,000 AED with a standard deviation of 10,000 AED. Assuming that the costs of education are normally
distributed, find the upper limit of the 97% confidence interval.
Transcribed Image Text:QUESTION 5 A recent study based on 25 families showed that the average cost of education, from primary to university, in the UAE is 365,000 AED with a standard deviation of 10,000 AED. Assuming that the costs of education are normally distributed, find the upper limit of the 97% confidence interval.
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