SOLUTION: Standard Normal Distribution
If keeping with inflation the council reviews the price of land to an average price of $3500 per hectare with a variance of $62,500 sketch a standar
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If keeping with inflation the council reviews the price of land to an average price of $3500 per hectare with a variance of $62,500 sketch a standar
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Question 922497: Standard Normal Distribution
If keeping with inflation the council reviews the price of land to an average price of $3500 per hectare with a variance of $62,500 sketch a standard normal distribution showing the 95% confidence intervals of new land price per hectare. Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! mean = $3500 per hectare, sd = sqrt(62500) = 250
ME = 1.96(250) = 490
CI: 3500 - 490 < mu < 3500+490
CI: (3010 , 3990)
