Question

Data on investments in the​ high-tech industry by venture capitalists are compiled by a corporation. A random sample of

18

​venture-capital investments in a certain business sector yielded the accompanying​ data, in millions of dollars. Determine and interpret a

95​%

confidence interval for the mean​ amount,

μ​,

of all​ venture-capital investments in this business sector. Assume that the population standard deviation is

​$1.75

million.​ (Note: The sum of the data is

​$95.94

​million.) Click here to view the investment data.

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Click here to view page 1 of the table of areas under the standard normal curve.

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Click here to view page 2 of the table of areas under the standard normal curve.

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The

95​%

confidence interval is from

​$nothing

million to

​$nothing

million.

​(Round to two decimal places as​ needed.)

Interpret the

95​%

confidence interval. Select all that apply.

A.

95​%

of all amounts of​ venture-capital investements in this business sector are between the​ interval's bounds.

B.There is a

95​%

chance that the mean amount of all​ venture-capital investments in this business sector is between the​ interval's bounds.

C.

95​%

of all possible random samples of

18

​venture-capital investments in this business sector have mean amounts that are between the​ interval's bounds.

D.With

95​%

​confidence, the mean amount of all​ venture-capital investments in this business sector is between the​ interval's bounds.

Answer 1

i)

ii) Interpretation :

B) There is a 95​% chance that the mean amount of all​ venture-capital investments in this business sector is between the​ interval's bounds.

D) With 95​% ​confidence, the mean amount of all​ venture-capital investments in this business sector is between the​ interval's bounds.