You are given the sample mean and the population standard deviation. Use this information to construct...
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You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 37 business days, the mean closing price of a certain stock was $105.37. Assume the population standard deviation is $10.31. The 90% confidence interval is (.). (Round to two decimal places as needed.) The 95% confidence interval is ( ). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. The 90% confidence interval The 95% confidence interval Interpret the results. O A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 33 of the 37 days, and was within the 95% confidence interval for approximately 35 of the 37 days. O B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O C. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O D. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 37 business days, the mean closing price of a certain stock was $105.37. Assume the population standard deviation is $10.31. The 90% confidence interval is (.). (Round to two decimal places as needed.) The 95% confidence interval is ( ). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. The 90% confidence interval The 95% confidence interval Interpret the results. O A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 33 of the 37 days, and was within the 95% confidence interval for approximately 35 of the 37 days. O B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O C. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O D. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals.
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Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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