SOLUTION: Please help with this:
A city built a new parking garage in a business district. For a random sample of 64 days, daily fees collected averaged $2,000, with a standard deviation
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-> SOLUTION: Please help with this:
A city built a new parking garage in a business district. For a random sample of 64 days, daily fees collected averaged $2,000, with a standard deviation
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Question 1052858: Please help with this:
A city built a new parking garage in a business district. For a random sample of 64 days, daily fees collected averaged $2,000, with a standard deviation of $400. Construct a 95% confidence interval estimate of the mean daily income this parking garage generates.
I really appreciate the assistance! Answer by ewatrrr(24785) (Show Source):
Hi
Mean = $2,000, with a standard deviation of $400. n = 64
Construct a 95% confidence interval estimate of the mean daily income this parking garage generates.
ME =
ME = 1.96*400/8
CI = 2000 ± 98
|
= CI z = value
90% z =1.645
92% z = 1.751
95% z = 1.96
98% z = 2.326
99% z = 2.576
