### Confidence Intervals for Stock PricesA random sample of the closing stock prices in dollars for a company in a recent year is listed below. Assume that the population standard deviation (σ) is $2.05. Construct the 90% and 99% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals.#### Stock Prices Sample:- 20.05, 17.49, 21.71, 22.72, 17.81- 16.34, 18.73, 15.67, 17.97, 16.95- 16.51, 20.45, 15.54, 15.41, 19.13- 16.84---#### Calculated Confidence Intervals:- **90% Confidence Interval:** ($17.24, $18.92) - *Rounded to two decimal places as needed.*- **99% Confidence Interval:** ($__, $__) - *Round to two decimal places as needed.*---### ExplanationThe confidence intervals represent the range within which we expect the true population mean of the stock prices to fall. The 90% confidence interval is narrower than the 99% confidence interval, reflecting less certainty about the range but more precision. As the confidence level increases, the interval widens, incorporating more potential values of the population mean.

The population standard deviation is 2.05.

Answered: A random sample of the closing stock…

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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