SOLUTION: Please show calculation to problem. To estimate the average annual expenses of students on books and class materials a sample of size 36 is taken. The average is $ 850 and the st
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Question 218805: Please show calculation to problem. To estimate the average annual expenses of students on books and class materials a sample of size 36 is taken. The average is $ 850 and the standard diviation is $ 54. A 99% confidence interval for the population mean is: Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Please show calculation to problem. To estimate the average annual expenses of students on books and class materials a sample of size 36 is taken. The average is $ 850 and the standard diviation is $ 54.
A 99% confidence interval for the population mean is:
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invT(0.005) = 2.576
standard error = 2.576 = 23.18
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99% CI: 850-23.18 < u < 850+23.18
99% CI: 826.82 < u < 873.18
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Cheers,
Stan H.
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