Fourth quarter quiz 1 Stat.& Prob.10 ot 12An independent researcher wishes to estimate the average amount of money a youngprofessional spends in clothing each month. A sample of 40 young professionals who spendin clothing found the mean to be P500 and the standard deviation to be P80. Find the bestpoint estimate of the population mean and 95% confidence interval of the population mean.Find the following given: X =Solution: Use the formula X - %. () <"< +X +2 : ()!!

Name: Fourth quarter quiz 1 Stat.& Prob.10 ot 12An independent researcher w
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Description: Fourth quarter quiz 1 Stat.& Prob.10 ot 12An independent researcher wishes to estimate the average amount of money a youngprofessional spends in clothing each month. A sample of 40 young professionals who spendin clothing found the mean to be P500 a

Given, n=40= sample sizex¯=500 = sample means=80 = sample sdα=0.05= level of significanceσ=…

Answered: An independent researcher wishes to…

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Fourth quarter quiz 1 Stat.& Prob.
10 ot 12
An independent researcher wishes to estimate the average amount of money a young
professional spends in clothing each month. A sample of 40 young professionals who spend
in clothing found the mean to be P500 and the standard deviation to be P80. Find the best
point estimate of the population mean and 95% confidence interval of the population mean.
Find the following given: X =
Solution: Use the formula X - %. () <"< +X +2 : ()
!!

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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.

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