deviation is $201.40. This creates a 90% confidence interval for the population mean of ($1334.50, $1428.20). Does it seem possible that the population mean could equal the sample mean exactly? Explain. Choose the correct answer below. A. It would be very unlikely because the margin of error is large enough that the odds of selecting an exact value is very B. It is possible because the sample mean is outside of the confidence interval. C. It is possible because the margin of error is small enough that the odds of selecting an exact value is not unlikely. O D. It is not possible because the sample mean is inside of the confidence interval.
deviation is $201.40. This creates a 90% confidence interval for the population mean of ($1334.50, $1428.20). Does it seem possible that the population mean could equal the sample mean exactly? Explain. Choose the correct answer below. A. It would be very unlikely because the margin of error is large enough that the odds of selecting an exact value is very B. It is possible because the sample mean is outside of the confidence interval. C. It is possible because the margin of error is small enough that the odds of selecting an exact value is not unlikely. O D. It is not possible because the sample mean is inside of the confidence 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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Transcribed Image Text:3. From a random sample of 50 business days, gold prices had a mean of $1381.35. Assume the population standard
deviation is $201.40. This creates a 90% confidence interval for the population mean of ($1334.50, $1428.20). Does it seem
possible that the population mean could equal the sample mean exactly? Explain.
Choose the correct answer below.
A. It would be very unlikely because the margin of error is large enough that the odds of selecting an exact value is very
B. It is possible because the sample mean is outside of the confidence interval.
C. It is possible because the margin of error is small enough that the odds of selecting an exact value is not unlikely.
O D. It is not possible because the sample mean is inside of the confidence interval.
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