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 of47business days, the mean closing price of a certain stock was$121.84.Assume the population standard deviation is$10.38. Interpret the results. A.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. B.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. C.You can be certain that the closing price of the stock was within the 90% confidence interval for approximately42of the47days, and was within the 95% confidence interval for approximately45of the47days. 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.

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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 47 business days, the mean closing price of a certain stock was $121.84. Assume the

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 47 business days, the mean closing price of a certain stock was $121.84. Assume the

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

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Question

From a random sample of

business days, the mean closing price of a certain stock was

$121.84.

Assume the population standard deviation is

$10.38.

Interpret the results.

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.

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.

You can be certain that the closing price of the stock was within the 90% confidence interval for approximately

of the

days, and was within the 95% confidence interval for approximately

of the

days.

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