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A random sample of 1000 people was taken and a 95% confidence interval for the average income in thousands is (30, 70). What would be a 90% confidence interval based on the same sample? Assume th population standard deviation o is known. Show your work. (Hint:

A random sample of 1000 people was taken and a 95% confidence interval for the average income in thousands is (30, 70). What would be a 90% confidence interval based on the same sample? Assume th population standard deviation o is known. Show your work. (Hint:

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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A random sample of 1000 people was taken and a 95% confidence interval for the average income in thousands is (30, 70). What would be a 90% confidence interval based on the same sample? Assume the population standard deviation o is known. Show your work. (Hint: the sample mean is the center/midpoint of the confidence interval)
Transcribed Image Text:A random sample of 1000 people was taken and a 95% confidence interval for the average income in thousands is (30, 70). What would be a 90% confidence interval based on the same sample? Assume the population standard deviation o is known. Show your work. (Hint: the sample mean is the center/midpoint of the confidence interval)
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