SOLUTION: A toy company wants to know the average number of new toys bought for children each year. Marketers at the toy company collect data from the parents of 50 children. The sample me

Question 854369: A toy company wants to know the average number of new toys bought for children each year. Marketers at the toy company collect data from the parents of 50 children. The sample mean is 4.2 toys with a sample standard deviation of 1.5 toys. Construct a 95% confidence interval to estimate the population mean.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi,

90%	z =1.645

92%	z = 1.751

95%	z = 1.96

98%	z = 2.326

99%	z = 2.576

Question States***

ME = 1.96*1.5/sqrt(50) 

CI: 4.2-ME < u <  4.2 + ME 

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