Question

Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country. Construct a 90​% confidence interval. What does the result tell us about the population of all​ celebrities? Do the data appear to be from a normally distributed population as​ required? 267 198 192 169 163 153 147 147 147 147 What is the confidence interval estimate of the population mean u​?

Answer 1

Answer:

Given that,

Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country.

Construct a 90​% confidence interval. What does the result tell us about the population of all​ celebrities? Do the data appear to be from a normally distributed population as​ required:

267,198, 192, 169, 163, 153, 147, 147, 147, 147

Sample size = n= 10

Sample mean= =173

Standard deviation=s=38.067

We have to construct 90% confidence interval,

Formula is,

Here E is a margin of error.

The degrees of freedom =n-1=10-1=9

The level of significance =0.10

tc=1.833 (Using t-table)

=36.7768/3.1623

E=11.6298

So the confidence interval is (173-11.6298, 173+11.6298)

=(161.3702, 184.6298)

=(161.37, 184.63)