Question
In: Statistics and Probability
A simple random sample of 40 colleges and universities in the United States has a mean...
A simple random sample of 40 colleges and universities in the United States has a mean tuition of 18,800 with a standard deviation of 10,100. Construct a 98% confidence interval for the mean tuition for all colleges and universities in the United States. Round the answers to the nearest whole number.
Solutions
Expert Solution
Solution :
sample size = n = 40
Degrees of freedom = df = n - 1 = 39
t
/2,df = 2.426
Margin of error = E = t/2,df
* (s /
= 2.426 * (10,100 /
Margin of error = E = 3874.2
The 95% confidence interval estimate of the population mean is,
- E < 
<
+ E
18,800 - 3,874.2 <
< 18,800 + 3,874.2
14,925.8 <
< 22,674.2
(14,925.8, 22,674.2)
orchestra answered 2 years agoRelated Solutions
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