Question: 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

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 48 business days, the mean closing price of a certain stock was $119.88. Assume the population standard deviation is $11.47. see The 90% confidence interval is () (Round to two decimal places as needed.) see The 95% confidence interval is (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. see The 90% confidence interval The 95% confidence interval see s Interpret the results O A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 43 of the 48 days, and was within the 95% see s confidence interval for approximately 46 of the 48 days O B. 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. See S C. 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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
