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1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.

1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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I. Find the confidence interval estimate of the following problems on estimation of parameters. Then verify your answer using excel. 1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean. 2. The following are the IQ test scores of 31 randomly selected business students in a certain university. 113 99 104 89 102 91 114 114 103 105 106 108 130 120 131 110 127 118 119 87 73 111 103 74 112 107 103 98 96 112 113 Estimate the mean IQ score for all business students using the following: a. 99% confidence interval b. 95% confidence interval + co
Transcribed Image Text:I. Find the confidence interval estimate of the following problems on estimation of parameters. Then verify your answer using excel. 1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean. 2. The following are the IQ test scores of 31 randomly selected business students in a certain university. 113 99 104 89 102 91 114 114 103 105 106 108 130 120 131 110 127 118 119 87 73 111 103 74 112 107 103 98 96 112 113 Estimate the mean IQ score for all business students using the following: a. 99% confidence interval b. 95% confidence interval + co
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