You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 34 business days, the mean closing price of a certain stock was $119.27. Assume the population standard deviation is $10.12. The 90% confidence interval is ( ). (Round to two decimal places as needed.) The 95% confidence interval is ( ). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 95% confidence interval O The 90% confidence interval Interpret the results. O A. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. O B. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O C. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 31 of the 34 days, and was within the 95% confidence interval for approximately 32 of the 34 days. D. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 34 business days, the mean closing price of a certain stock was $119.27. Assume the population standard deviation is $10.12. The 90% confidence interval is ( ). (Round to two decimal places as needed.) The 95% confidence interval is ( ). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 95% confidence interval O The 90% confidence interval Interpret the results. O A. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. O B. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O C. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 31 of the 34 days, and was within the 95% confidence interval for approximately 32 of the 34 days. D. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
Related questions
Question
Transcribed Image Text:You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population
mean. Interpret the results and compare the widths of the confidence intervals.
From a random sample of 34 business days, the mean closing price of a certain stock was $119.27. Assume the population standard deviation is $10.12.
The 90% confidence interval is ( ).
(Round to two decimal places as needed.)
The 95% confidence interval is (
).
(Round to two decimal places as needed.)
Which interval is wider? Choose the correct answer below.
O The 95% confidence interval
O The 90% confidence interval
Interpret the results.
O A. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper
bounds of the 90% and 95% confidence intervals.
O B. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95%
interval.
O C. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 31 of the 34 days, and was within the 95%
confidence interval for approximately 32 of the 34 days.
D. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95%
interval.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill