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.