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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

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BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 8.1, Problem 2E
Textbook Problem
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A simple random sample of 50 items from a population with σ = 6 resulted in a sample mean of 32.

  1. a. Provide a 90% confidence interval for the population mean.
  2. b. Provide a 95% confidence interval for the population mean.
  3. c. Provide a 99% confidence interval for the population mean.

a.

To determine

Find the 90% confidence interval for population mean.

Explanation of Solution

Calculation:

The given information is that the sample of 50 items are selected randomly with mean 32 and population standard deviation 6.

The formula of confidence interval for population mean is,

x¯±zα2σn

From the “Table 8.1 value of zα2 ”, the value of zα2 for 90% confidence interval is 1.645.

The value of confidence interval for population mean is

x¯±zα2σn=32±1

b.

To determine

Find the 95% confidence interval for population mean.

c.

To determine

Find the 99% confidence interval for population mean.

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Chapter 8 Solutions

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