1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.

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
icon
Related questions
Question
100%

PLS HELP ME ASAP!

I. Find the confidence interval estimate of the following problems on estimation of parameters. Then
verify your answer using excel.
1. An independent researcher wishes to estimate the average amount of money a young professional spends in
clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500
and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.
2. The following are the IQ test scores of 31 randomly selected business students in a certain university.
113
99
104
89
102 91
114
114
103 105 106
108
130
120
131
110
127
118
119
87
73
111
103
74
112
107
103
98
96
112
113
Estimate the mean IQ score for all business students using the following:
a. 99% confidence interval
b. 95% confidence interval
+ co
Transcribed Image Text:I. Find the confidence interval estimate of the following problems on estimation of parameters. Then verify your answer using excel. 1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean. 2. The following are the IQ test scores of 31 randomly selected business students in a certain university. 113 99 104 89 102 91 114 114 103 105 106 108 130 120 131 110 127 118 119 87 73 111 103 74 112 107 103 98 96 112 113 Estimate the mean IQ score for all business students using the following: a. 99% confidence interval b. 95% confidence interval + co
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt