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a random sample of 10 venture capital investments in the fiber optics business sector yielded the...

a random sample of 10 venture capital investments in the fiber optics business sector yielded the following data, in millions of dollars. Determine a 95% confidence interval for mean amount of all venture capital investments in the fiber optics business sector.Assume that the population standard deviation is $2.58million.(Note:The sum of the data is 59.72million

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Expert Solution

Solution :

Given that,

= x / n = 59.72 / 10 = 5.972

Sample size = n = 10

= 2.58

Z/2 = 1.96

Margin of error = E = Z/2* ( /n)

= 1.96 * (2.58 / 10)

= 1.57

At 95% confidence interval estimate of the population mean is,

- E < < + E

5.972 - 1.57 < < 5.972 + 1.57

4.402 < < 7.542

(4.40, 7.54)

orchestra answered 1 year ago
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