I need help with this problem I don't think I did it right Construct a 98% confidence interval for the diffence between the selling price and list price (selling price - list price). Write your answer in interval notation, rounded to the nearest dollar. Do not include dollar signs in your interval. ### Selling Price Analysis- **Sample Size:** 801- **Mean:** 295,143- **Standard Deviation:** 10,256.3- **Confidence Level:** 98%- **Confidence Interval:** (286,721, 303,565) or (286,722, 303,566)### List Price Analysis- **Sample Size:** 801- **Mean:** 296,009- **Standard Deviation:** 10,360.9- **Confidence Level:** 98%- **Confidence Interval:** (286,906, 307,000) or (286,909, 307,051)### Combined Confidence IntervalThe union of the two confidence intervals can be expressed as:\[ (286,722, 303,566) \cup (286,909, 307,051) \]This indicates the range within which we can be 98% confident that the selling and list prices lie, based on the given data.

Confidence interval are used to determine the range where the true parameter lies. It has two…

Construct a 98% confidence interval for the diffence between the selling price and list price (selling price - list price). Write your answer in interval notation, rounded to the nearest dollar. Do not include dollar signs in your interval.

Construct a 98% confidence interval for the diffence between the selling price and list price (selling price - list price). Write your answer in interval notation, rounded to the nearest dollar. Do not include dollar signs in your interval.

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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I need help with this problem I don't think I did it right

### Selling Price Analysis

- **Sample Size:** 801
- **Mean:** 295,143
- **Standard Deviation:** 10,256.3
- **Confidence Level:** 98%
- **Confidence Interval:** (286,721, 303,565) or (286,722, 303,566)

### List Price Analysis

- **Sample Size:** 801
- **Mean:** 296,009
- **Standard Deviation:** 10,360.9
- **Confidence Level:** 98%
- **Confidence Interval:** (286,906, 307,000) or (286,909, 307,051)

### Combined Confidence Interval

The union of the two confidence intervals can be expressed as:

\[ (286,722, 303,566) \cup (286,909, 307,051) \]

This indicates the range within which we can be 98% confident that the selling and list prices lie, based on the given data.

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