You are given the sample mean and the population standard deviation. Use this information to construct...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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. If convenient, use technology to construct the confidence intervals. A random sample of 60 home theater systems has a mean price of $146.00. Assume the population standard deviation is $18.60. Construct a 90% confidence interval for the population mean. The 90% confidence interval is ( ). (Round to two decimal places as needed.) Construct a 95% confidence interval for the population mean. The 95% confidence interval is (. ). (Round to two decimal places as needed.) Interpret the results. Choose the correct answer below. O A. With 90% confidence, it can be said that the sample mean price lies in the first interval. With 95% confidence, it can be said that the sample mean price lies in the second interval. The 95% confidence interval is wider than the 90%. B. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is narrower than the 90%. O C. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is wider than the 90%. 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. If convenient, use technology to construct the confidence intervals. A random sample of 60 home theater systems has a mean price of $146.00. Assume the population standard deviation is $18.60. Construct a 90% confidence interval for the population mean. The 90% confidence interval is ( ). (Round to two decimal places as needed.) Construct a 95% confidence interval for the population mean. The 95% confidence interval is (. ). (Round to two decimal places as needed.) Interpret the results. Choose the correct answer below. O A. With 90% confidence, it can be said that the sample mean price lies in the first interval. With 95% confidence, it can be said that the sample mean price lies in the second interval. The 95% confidence interval is wider than the 90%. B. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is narrower than the 90%. O C. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is wider than the 90%.
Expert Answer:
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
Posted Date:
Students also viewed these mathematics questions
-
It can be said that complex IS projects commonly fail because organizations not only fail to learn, but also learn to fail. Explain how this happens. What should an organization do to avoid this...
-
As the distance between the sample mean and the population mean grows, the value of t ____.
-
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...
-
Successful interviews are results of completing pre-interview tasks, such as Identifying the interviewee, doing research on the topic and interviewee, choosing a location or method for the interview,...
-
The commonly used CD (Compact Disc) consists of many closely spaced tracks that can be used as reflecting gratings. The industry standard for the track-to-track distance is 1.6m. If a HeNe laser with...
-
In Fig P3.158 the flowing fluid is CO2 at 20°C. Neglect losses. If p1 = 170 kPa and the manometer fluid is Merriam red oil (SG = 0.827), estimate (a) p2 and (b) the gas flow rate in m3/h. D 6cm 8...
-
Gorav Dental Group started 2010 with Accounts Receivable of $120,000 and an Allowance for Uncollectible Accounts balance of $6,000. The following information relates to Gorav Dentals 2010 operations:...
-
(a) Rochelle Company ships merchandise to Jay Company on December 30. The merchandise reaches the buyer on January 6. Indicate the terms of sale that will result in the goods being included in (1)...
-
If a government gets the fiscal policies right, they get to work on the rest of policy ideas like education and health.Why do you think this is important? What are the major policy problems...
-
The Metropolitan Transit Authority (MTA) has just opened a new subway line (the Orange Line) in its underground transportation network. The Orange Line had a capital investment of $20 million,...
-
Prepare a Presentation on the topic related to facilities design and works cited, Including Considerations before establishing facility Design Layout in Building Management, Objectives, Aesthetic...
-
How does ERP enable real-time visibility and tracking of goods in transit?
-
Determine the slope and the displacement at point C using either the moment-area or conjugate-beam method. Please only use one of the methods to compute the deflections (i.e., slope and displacement)...
-
4. Convert following assembly instruction to 32 bit machine code and then change it to Hexadecimal format. (25 Points) a. LDUR X10, [X5, #16] b. SUB X12, X14, X15 LSR X11, 19, #2
-
ving a sample that wasn't too la...How does leadership style impact the manifestation of Organizational Citizenship Behavior (OCB) among employees?
-
Swimming one lap in a pool is defined as going across a pool and back again. If a swimmer swims 3 laps in 9 minutes, how can his average velocity be zero? Please show using formula.
-
Easten Co. leased a new forklift on January1. This lease has the following details: o The lease agreement is for 10 years. o The annual payment of $5,000 is due at the beginning of each year. o...
-
Parkin Industries, a U.S. company, acquired a wholly-owned subsidiary, located in Italy, at the beginning of the current year, for 200,000. The subsidiary's functional currency is the euro. The...
-
Sally's Sweet Shop's August 31 bank balance was $11,135. The company's cash balance at August 31 was $10,805. Other information follows: 1. Outstanding cheques were #421 for $165, #485 for $265, #492...
-
Brandon Shoe Store uses the retail inventory method to estimate its monthly ending inventories. The following information is available at November 30, 2017: At November 30, Brandon Shoe Store takes a...
-
The following is an alphabetical list of Bud's Bakery's adjusted account balances at the end of the company's fiscal year on November 30, 2017: Additional facts: 1. Bud's Bakery uses a periodic...
-
Paul Polishan graduated with an accounting degree in 1969 and immediately accepted an entry-level position in the accounting department of The Leslie Fay Companies, a womens apparel manufacturer...
-
After completing Part A of this assignment, your instructor may ask you to complete Part B. Do not proceed to Part B unless requested to do so by your instructor. BACKGROUND Congratulations!!! You...
-
Nathan recently interviewed with one of the accounting firms in the city where he wants to live. The firm agreed to cover the expense of a rental car that he used to travel from his university to the...
Study smarter with the SolutionInn App