Question: I really need help with this problem, any help would be greatly appreciated! Exercise 8-4 Algo 6 Consider a population with a known standard deviation
I really need help with this problem, any help would be greatly appreciated!

Exercise 8-4 Algo 6 Consider a population with a known standard deviation of 25.2. In order to compute an interval estimate for the population mean, a points sample of 60 observations is drawn. [You may find it useful to reference the z table.] a. Is the condition that X is normally distributed satisfied? Book Yes O No Hint n References b. Compute the margin of error at a 90% confidence level. (Round intermediate calculations to at least 4 decimal places. Round "z" value to 3 decimal places and final answer to 2 decimal places.) Margin of error c. Compute the margin of error at a 90% confidence level based on a larger sample of 320 observations. (Round intermediate calculations to at least 4 decimal places. Round "z" value to 3 decimal places and final answer to 2 decimal places.) Margin of error d. Which of the two margins of error will lead to a wider confidence interval? 090% confidence with n = 320. . 90% confidence with n = 60
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
