In: Statistics and Probability
a)
0.05N = 0.05*32141882 = 1607094 > n = 5067
b)
sample std dev ,    s =    1.5500
Sample Size ,   n =    5067
Sample Mean,    x̅ =   72.1000
Level of Significance ,    α =   
0.05          
'   '   '      
   
z value=   z α/2=   1.9600   [Excel
formula =NORMSINV(α/2) ]      
          
       
Standard Error , SE = s/√n =   1.550   /
√   5067   =   0.0218
margin of error, E=Z*SE =   1.9600  
*   0.022   =   0.043
          
       
confidence interval is       
           
Interval Lower Limit = x̅ - E =    72.10  
-   0.043   =   72.0573
Interval Upper Limit = x̅ + E =    72.10  
-   0.043   =   72.1427
95%   confidence interval is (  
72.06   < µ <   72.14  
)
c)
we are 95% confident that true population mean of thermostat setting in degrees Fahrenheit for homeowners from the Southern region of the U.S, during winter lies within confidence interval.