SOLUTION: A marketing research company desires to know the mean consumption of milk per week among people over age 45. A sample of 306 people over age 45 was drawn and the mean milk consumpt

Question 1179407: A marketing research company desires to know the mean consumption of milk per week among people over age 45. A sample of 306 people over age 45 was drawn and the mean milk consumption was 3.9 liters. Assume that the population standard deviation is known to be 0.7 liters. Construct the 98% confidence interval for the mean consumption of milk among people over age 45. Round your answers to one decimal place.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
98% half-interval is z(0.99)*sigma/sqrt(n)=2.326*0.7/sqrt(306)
=0.0931
interval is (3.807, 3.993)
answer is (3.8, 4.0) liters
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