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A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 119 homeowners selected from this area showed that they pay an average of $1574 per month for their mortgages. The population standard deviation of such mortgages is $219. a. Find a 95% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area. Round your answers to two decimal places. eTextbook and Media to i dollars b. Suppose the confidence interval obtained in part a is too wide. Select all of the ways the width of this interval can be reduced. O Lowering the confidence level O Increasing the sample size O Increasing the confidence level O Lowering the sample size

A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 119 homeowners selected from this area showed that they pay an average of $1574 per month for their mortgages. The population standard deviation of such mortgages is $219. a. Find a 95% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area. Round your answers to two decimal places. eTextbook and Media to i dollars b. Suppose the confidence interval obtained in part a is too wide. Select all of the ways the width of this interval can be reduced. O Lowering the confidence level O Increasing the sample size O Increasing the confidence level O Lowering the sample size

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 119 homeowners selected from this area showed that they pay an average of $1574 per month for their mortgages. The population standard deviation of such mortgages is $219. a. Find a 95% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area. Round your answers to two decimal places. i eTextbook and Media to i dollars b. Suppose the confidence interval obtained in part a is too wide. Select all of the ways the width of this interval can be reduced. Lowering the confidence level Increasing the sample size Increasing the confidence level O Lowering the sample size
Transcribed Image Text:A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 119 homeowners selected from this area showed that they pay an average of $1574 per month for their mortgages. The population standard deviation of such mortgages is $219. a. Find a 95% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area. Round your answers to two decimal places. i eTextbook and Media to i dollars b. Suppose the confidence interval obtained in part a is too wide. Select all of the ways the width of this interval can be reduced. Lowering the confidence level Increasing the sample size Increasing the confidence level O Lowering the sample size
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