Answered: Following are prices of a random sample…

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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Following are prices of a random sample of 18 smart TVs sold at a particular department store with screen sizes between 46’’ and 50’’. Find the 90% confidence interval for the true mean price of a smart TV purchased at this store. Assume the prices are normally distributed.

448 498 597 599 649 699 529 749 628 950 798 369 498 669 499 599 355 469

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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