A random sample of 20 recent weddings in a country yielded a mean wedding cost of $26,396.48. Assume that recent wedding costs in this country are normally distributed with a standard deviation of $7900. a. The 95% confidence interval is from $ to $ _ b. Interpret result We can be 95% confident that the sample cost of recent weddings in this country is somewhere within the confidence interval. We can be 95% confident that any randomly selected recent wedding cost in this country is somewhere within the confidence interval. The mean cost, μ,of all recent weddings in this country is somewhere within the confidence interval. We can be 95% confident that the mean cost, μ,of all recent weddings in this country is somewhere within the confidence interval. c. Does the mean cost of all recent weddings in this country lie in the confidence interval obtained in part (a)? The sample mean may or may not lie in this interval, but we can be 95% confident that it does. The population mean may or may not lie in this interval, but we can be 95% confident that it does. No, since there is a 5% chance that the population mean does not lie in the confidence interval. Yes, since the confidence interval must contain the sample and population means.

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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Question

A random sample of 20 recent weddings in a country yielded a mean wedding cost of

$26,396.48.

Assume that recent wedding costs in this country are normally distributed with a standard deviation of $7900.

a. The 95% confidence interval is from

$____ to $ _____

b. Interpret result

We can be 95% confident that the sample cost of recent weddings in this country is somewhere within the confidence interval.

We can be 95% confident that any randomly selected recent wedding cost in this country is somewhere within the confidence interval.

The mean cost, μ,of all recent weddings in this country is somewhere within the confidence interval.

We can be 95% confident that the mean cost, μ,of all recent weddings in this country is somewhere within the confidence interval.

c. Does the mean cost of all recent weddings in this country lie in the confidence interval obtained in part (a)?

The sample mean may or may not lie in this interval, but we can be 95% confident that it does.

The population mean may or may not lie in this interval, but we can be 95% confident that it does.

No, since there is a 5% chance that the population mean does not lie in the confidence interval.

Yes, since the confidence interval must contain the sample and population means.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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