A surveying company wants to know the average amount of people spent in a trip. A random sample of 8 people was taken and their amount of spendings ($) in the previous trip were recorded as follow: 8200 8500 4300 5200 5600 7800 2310 10000 It is assumed that the amount spent was normally distributed. (a) Construct a 95% confidence interval of the population mean spending in a trip. (b) If the similar survey would be done regularly, each time with the same sample size n = 8. After the construction of 50 confidence intervals, each at 95% confidence level, approximately how many such intervals can successfully include the unknown population mean?
A surveying company wants to know the average amount of people spent in a trip. A random sample of 8 people was taken and their amount of spendings ($) in the previous trip were recorded as follow: 8200 8500 4300 5200 5600 7800 2310 10000 It is assumed that the amount spent was normally distributed. (a) Construct a 95% confidence interval of the population mean spending in a trip. (b) If the similar survey would be done regularly, each time with the same sample size n = 8. After the construction of 50 confidence intervals, each at 95% confidence level, approximately how many such intervals can successfully include the unknown population mean?
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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