Suppose you have drawn a simple random sample of 625 students from University X

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1.22K viewsFebruary 18, 2019Statistics

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Anonymous 599 January 10, 2019 0 Comments

1.(5 pt) Suppose you have drawn a simple random sample of 625 students from University X and recorded how much money each student spent on text books in 2016. For your sample, sample mean (X bar) is $500, and sample standard deviation (s) is $200. Construct a 95% confidence interval for µ. (Show work)

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score 0 · Answer 1 · 2019-01-10T08:25:28+00:00

The 95% confidence interval for $\mu$ is constructed below,

Instructions to construct 95% confidence interval for $\mu$

1.In EXCEL, Select Add-Ins > MegaStat > Confidence intervals/Sample size.

2.Choose Confidence intervals-Mean.

3.Enter 500 as the mean, 200 as the Std.Dev, and 625 as the n.

4.Choose t.

5.In Confidence Level, Choose 95%.

6.Click Preview and then OK.

Follow the above instructions to obtain following output,

From the Excel-MegaStat output, the 95% confidence interval for $\mu$ is $\left( {484.290,\,\,515.710} \right)$ .

Part 1The constructed 95% confidence interval for

\mu

is

\left( {484.290,\,\,515.710} \right)

.