Respuesta :
Answer:
a) The 95% confidence interval would be given by (3229.95;3326.49)
b) n=91
Step-by-step explanation:
1) Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
[tex]\bar X[/tex] represent the sample mean for the sample
[tex]\mu[/tex] population mean (variable of interest)
s represent the sample standard deviation
n represent the sample size
2) Part a
The confidence interval for the mean is given by the following formula:
[tex]\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}[/tex] (1)
In order to calculate the mean and the sample deviation we can use the following formulas:
[tex]\bar X= \sum_{i=1}^n \frac{x_i}{n}[/tex] (2)
[tex]s=\sqrt{\frac{\sum_{i=1}^n (x_i-\bar X)}{n-1}}[/tex] (3)
The mean calculated for this case is [tex]\bar X=3278.222[/tex]
The sample deviation calculated [tex]s=97.054[/tex]
In order to calculate the critical value [tex]t_{\alpha/2}[/tex] we need to find first the degrees of freedom, given by:
[tex]df=n-1=18-1=17[/tex]
Since the Confidence is 0.95 or 95%, the value of [tex]\alpha=0.05[/tex] and [tex]\alpha/2 =0.025[/tex], and we can use excel, a calculator or a tabel to find the critical value. The excel command would be: "=-T.INV(0.025,17)".And we see that [tex]t_{\alpha/2}=2.110[/tex]
Now we have everything in order to replace into formula (1):
[tex]3278.222-2.110\frac{97.054}{\sqrt{18}}=3229.95[/tex]
[tex]3278.222+2.110\frac{97.054}{\sqrt{18}}=3326.49[/tex]
So on this case the 95% confidence interval would be given by (3229.95;3326.49)
3) Part b
The margin of error is given by this formula:
[tex] ME=z_{\alpha/2}\frac{s}{\sqrt{n}}[/tex] (4)
And on this case we have that ME =+20 and we are interested in order to find the value of n, if we solve n from equation (4) we got:
[tex]n=(\frac{z_{\alpha/2} s}{ME})^2[/tex] (5)
The critical value for 95% of confidence interval now can be founded using the normal distribution. And in excel we can use this formla to find it:"=-NORM.INV(0.025;0;1)", and we got [tex]z_{\alpha/2}=1.960[/tex], replacing into formula (5) we got:
[tex]n=(\frac{1.960(97.054)}{20})^2 =90.46 \approx 91[/tex]
So the answer for this case would be n=91 rounded up to the nearest integer