the mean of the data set: 37634.3 the standard deviation of the data set: 10967.85287 the...

the mean of the data set: 37634.3

the standard deviation of the data set: 10967.85287

the sample size of the data set: 50

Using the numbers above calculate the following

Show your step-by-step work for each question:

Determine the 90% confidence interval, assuming that sigma is unknown, list each in proper (lower bound, upper bound) notation. Make a confidence statement.

Determine the 95% confidence interval, assuming that sigma is unknown, list each in proper (lower bound, upper bound) notation. Make a confidence statement.

Determine the 99% confidence interval, assuming that sigma is unknown, list each in proper (lower bound, upper bound) notation. Make a confidence statement.

Which of your answers above has the largest range?

Explain why.

What would be the effect on the original 95% confidence interval if the sample size were increased by 10 data points? Show work and explain your answer.

How would the original 95% confidence interval be affected if the standard deviation were doubled? Show your work and explain your answer.

Solutions

Expert Solution

d) From part (a) , (b) and (c) we observe that 99% confidence interval has largest range.

orchestra answered 1 year ago

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