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Answer:
Very confused! at 95% confidence level, the true population mean will be between 134.33 and 145.67.
Step-by-step explanation:
A random sample of 45 home theater systems has a mean price of $140.00
Assume the population standard deviation is $19.40
population standard deviation is 19.40
sample size is 45.
standard error of the sample mean is 19.40 / sqrt(45) = 2.89198
at 90% confidence level, critical z is plus or minus 1.645.
at 95% confidence level, critical z is plus or minus 1.96.
critical raw score will be sample mean plus or minus critical z-score * standard error of the mean.
your sample mean is 140.
your standard error of the mean is 2.89198
at 90% confidence level, your critical raw score will be 140 plus or minus 1.645 * 2.89198.
that becomes 140 plus or minus 4.76 rounded to the nearest penny.
at 90% confidence level, the true population mean will be between 135.24 and 144.76.
at 95% confidence level, your critical raw score will be 140 plus or minus 1.96 * 2.89198.
that becomes 140 plus or minus 5.67 rounded to the nearest penny.
Using the z-distribution, it is found that:
- The 90% confidence interval for the population mean is (82.55, 87.89). It means that we are 90% sure that the true population mean is between these two values.
- The 95% confidence interval for the population mean is (82.04, 88.40). It means that we are 95% sure that the true population mean is between these two values.
- The higher the confidence level, the higher the critical value is, and thus, a higher confidence level leads to a wider interval.
We are given the standard deviation for the population, and thus, the z-distribution is used.
The information is:
- Sample mean of [tex]\overline{x} = 85.22[/tex].
- Population standard deviation of [tex]\sigma = 13.97[/tex].
- Sample size of 74, thus [tex]n = 74[/tex].
A z-confidence interval is given by:
[tex]\overline{x} \pm z\frac{\sigma}{\sqrt{n}}[/tex]
We have to find the critical value, which is z with a p-value of [tex]\frac{1 + \alpha}{2}[/tex], in which [tex]\alpha[/tex] is the confidence level.
For the 90% confidence interval, [tex]\alpha = 0.9[/tex], thus, z with a p-value of [tex]\frac{1 + 0.9}{2} = 0.95[/tex], which means that it is z = 1.645.
Then, the 90% confidence interval is:
[tex]\overline{x} - z\frac{\sigma}{\sqrt{n}} = 85.22 - 1.645\frac{13.97}{\sqrt{74}} = 82.55[/tex]
[tex]\overline{x} + z\frac{\sigma}{\sqrt{n}} = 85.22 + 1.645\frac{13.97}{\sqrt{74}} = 87.89[/tex]
The 90% confidence interval for the population mean is (82.55, 87.89). It means that we are 90% sure that the true population mean is between these two values.
For the 95% confidence interval, [tex]\alpha = 0.95[/tex], thus, z with a p-value of [tex]\frac{1 + 0.95}{2} = 0.975[/tex], which means that it is z = 1.96.
Then, the 95% confidence interval is:
[tex]\overline{x} - z\frac{\sigma}{\sqrt{n}} = 85.22 - 1.96\frac{13.97}{\sqrt{74}} = 82.04[/tex]
[tex]\overline{x} + z\frac{\sigma}{\sqrt{n}} = 85.22 + 1.96\frac{13.97}{\sqrt{74}} = 88.40[/tex]
The 95% confidence interval for the population mean is (82.04, 88.40). It means that we are 95% sure that the true population mean is between these two values.
The higher the confidence level, the higher the critical value is, and thus, a higher confidence level leads to a wider interval.
A similar problem is given at https://brainly.com/question/22596713