SOLUTION: A university wants to estimate the average amount of money that students spend on textbooks in a semester. It takes a random sample of 45 students and finds that an average amount

Question 216702: A university wants to estimate the average amount of money that students spend on textbooks in a semester. It takes a random sample of 45 students and finds that an average amount of money spent was $282 with a standard deviation of $21. Find a 95% confidence interval estimate for the true mean amount of money spent on textbooks in a semester.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A university wants to estimate the average amount of money that students spend on textbooks in a semester. It takes a random sample of 45 students and finds that an average amount of money spent was $282 with a standard deviation of $21. Find a 95% confidence interval estimate for the true mean amount of money spent on textbooks in a semester.
-----------------------------
sample mean = 282
standard error = 1.96 = 6.1358...
-----
95% CI: 282-6.1358 < u < 282 + 6.1358
95% CI: 275.86 < u < 288.14
=================================
Cheers,
Stan H.

RELATED QUESTIONS
The admissions office wants to estimate the cost of textbooks for students at our... (answered by lynnlo)

A random sample of 61 students was asked how much they spent for classroom textbooks this (answered by stinktrap)

The financial aid officer at a South African university wishes to estimate the mean cost... (answered by Theo,ewatrrr)

The distribution of the amount of money undergraduate students spend on books for a term... (answered by ewatrrr)

ou are going to decide whether you will attend university classes for 8 weeks the... (answered by ikleyn)

A study has shown that 20% of all university textbooks have a price greater than or equal (answered by ewatrrr)

Please help me solve this (it is based on matrices as there was no option to select that... (answered by Theo)

Question 1(a) Suppose that the amount of time teenagers spend on the Internet is... (answered by ikleyn)

At a certain university, the average cost of books per student was $330 per student last... (answered by yuendatlo)