SOLUTION: Normal distribution
A mean amount of profit per car sold for a sample of 25 dealers was 290$, with a standard deviation of 100$ Develop a 90% Confidence interval for th epopulatio
Algebra.Com
Question 240385: Normal distribution
A mean amount of profit per car sold for a sample of 25 dealers was 290$, with a standard deviation of 100$ Develop a 90% Confidence interval for th epopulation mean?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Normal distribution
A mean amount of profit per car sold for a sample of 25 dealers was 290$, with a standard deviation of 100$ Develop a 90% Confidence interval for th epopulation mean?
-------------
sample mean: $290
standard error: 1.645*100/sqrt(25) = 32.9
---------------------------
90% CI: 290-32.9 < u < 290+32.9
====================================
Cheers,
Stan H.
RELATED QUESTIONS
Assume that females have pulse rates that are normally distributed with a mean of = 76.0... (answered by math_tutor2020)
An insurance company's profity on a homeowner's policy has a normal distribution with... (answered by Fombitz)
The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50... (answered by robertb)
The annual sales of dealers of a company follows the normal distribution with its mean as
(answered by CPhill)
Construct a 95% confidence interval for the population mean, μ. Assume the... (answered by ewatrrr)
another questions i need help with:
In a random sample of 42 bolts, the mean length... (answered by stanbon)
Invoices at a particular depot have amounts, which follow a Normal distribution with a... (answered by ewatrrr)
Specify whether you will use a normal distribution, t-distribution or neither for the... (answered by Fombitz)
Identify the distribution of the sample mean. In particular, state whether the... (answered by stanbon)