A conservative investor would like to invest some money in a bond fund. The investor is concerned about the safety of her principal (the original money invested). Colonial Funds claims to have a bond fund which has maintained a consistent share price of $7. They claim that this share price has not varied by more than $0.25 on average since its inception. To test this claim, the investor randomly selects 25 days during the last year and determines the share price for the bond fund. The average share price of the sample is $7 with a standard deviation of $0.35. Construct a 90% confidence interval for the standard deviation of the share price of the bond fund. Round your answer to four decimal places.

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A conservative investor would like to invest some money in a bond fund. The investor is concerned about the safety of her principal (the original money
invested). Colonial Funds claims to have a bond fund which has maintained a consistent share price of $7. They claim that this share price has not varied by
more than $0.25 on average since its inception. To test this claim, the investor randomly selects 25 days during the last year and determines the share price
for the bond fund. The average share price of the sample is $7 with a standard deviation of $0.35.
Construct a 90% confidence interval for the standard deviation of the share price of the bond fund. Round your answer to four decimal places.
Transcribed Image Text:A conservative investor would like to invest some money in a bond fund. The investor is concerned about the safety of her principal (the original money invested). Colonial Funds claims to have a bond fund which has maintained a consistent share price of $7. They claim that this share price has not varied by more than $0.25 on average since its inception. To test this claim, the investor randomly selects 25 days during the last year and determines the share price for the bond fund. The average share price of the sample is $7 with a standard deviation of $0.35. Construct a 90% confidence interval for the standard deviation of the share price of the bond fund. Round your answer to four decimal places.
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