Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of 18 venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population standard deviation is $1.83 million, a 99% confidence interval for the mean amount, u, of all venture-capital investments in this business sector is from $6.268 million to $8.490 million. Complete parts (a) and (b) below. (Note: The sum of the data is $132.82 millio Click here to view the investment data. Click here to view page 1 of the table of areas under the standard normal curve. Click here to view page 2 of the table of areas under the standard normal curve. - X a. Obtain the margin error (in millions of dollars) by taking half the length of the confidence interval. Investment data Select the correct choice below and fill in the answer box to complete your choice. Round to three decimal places as needed.) 6.90
Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of 18 venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population standard deviation is $1.83 million, a 99% confidence interval for the mean amount, u, of all venture-capital investments in this business sector is from $6.268 million to $8.490 million. Complete parts (a) and (b) below. (Note: The sum of the data is $132.82 millio Click here to view the investment data. Click here to view page 1 of the table of areas under the standard normal curve. Click here to view page 2 of the table of areas under the standard normal curve. - X a. Obtain the margin error (in millions of dollars) by taking half the length of the confidence interval. Investment data Select the correct choice below and fill in the answer box to complete your choice. Round to three decimal places as needed.) 6.90
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Author:Amos Gilat
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![Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of 18 venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population
standard deviation is $1.83 million, a 99% confidence interval for the mean amount, µ, of all venture-capital investments in this business sector is from $6.268 million to $8.490 million. Complete parts (a) and (b) below. (Note: The sum of the data is $132.82 million.)
Click here to view the investment data.
Click here to view page 1 of the table of areas under the standard normal curve.
Click here to view page 2 of the table of areas under the standard normal curve.
Investment data
a. Obtain the margin of error (in millions of dollars) by taking half the length of the confidence interval.
Select the correct choice below and fill in the answer box to complete your choice.
(Round to three decimal places as needed.)
6.90
6.95
16,268 +8.490“
O A.
5.51
6.93
8.490 – 6.268
6.83
OB.
2
8.30
6.268 + 8.490
6.48
OC.
2
5.12
10.56
1.83
10.53
O D. V18
9.88
2
5.78
8.490
4.22
7.21
O E. 6.268
9.62
6.35
8.09
7.56](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2b425c8-1e3a-4bc4-9526-e999f44a089d%2Ff646a65b-274e-4ca1-8fee-8ee4c182cb50%2Fg3u2ely_processed.png&w=3840&q=75)
Transcribed Image Text:Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of 18 venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Assuming that the population
standard deviation is $1.83 million, a 99% confidence interval for the mean amount, µ, of all venture-capital investments in this business sector is from $6.268 million to $8.490 million. Complete parts (a) and (b) below. (Note: The sum of the data is $132.82 million.)
Click here to view the investment data.
Click here to view page 1 of the table of areas under the standard normal curve.
Click here to view page 2 of the table of areas under the standard normal curve.
Investment data
a. Obtain the margin of error (in millions of dollars) by taking half the length of the confidence interval.
Select the correct choice below and fill in the answer box to complete your choice.
(Round to three decimal places as needed.)
6.90
6.95
16,268 +8.490“
O A.
5.51
6.93
8.490 – 6.268
6.83
OB.
2
8.30
6.268 + 8.490
6.48
OC.
2
5.12
10.56
1.83
10.53
O D. V18
9.88
2
5.78
8.490
4.22
7.21
O E. 6.268
9.62
6.35
8.09
7.56
![b. Obtain the margin of error (in millions of dollars) by using the formula E=z«/2*
(Recall that n=18 and that o = $1.83 million.)
Substitute the appropriate values and compute.
(Round the value of z,12 to two decimal places as needed. Round all other values to three decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2b425c8-1e3a-4bc4-9526-e999f44a089d%2Ff646a65b-274e-4ca1-8fee-8ee4c182cb50%2Fvmil4t_processed.png&w=3840&q=75)
Transcribed Image Text:b. Obtain the margin of error (in millions of dollars) by using the formula E=z«/2*
(Recall that n=18 and that o = $1.83 million.)
Substitute the appropriate values and compute.
(Round the value of z,12 to two decimal places as needed. Round all other values to three decimal places as needed.)
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