Georgia politician claims that the average airfare between Atlanta and Chicago is less than $ 105. Here is a sample of 35 airfares from Atlanta to Chicago in ascending order: (Note: The data presented here is undoubtedly out of date.) 87 87 90 94 94 95 96 98 98 98 99 100 101 101 101 101 102 103 103 103 104 104 104 105 105 105 105 106 107 107 108 109 111 114 117 The (sample) standard deviation for the sample is $ 6.69. We wish to construct a 95% confidence interval for the population mean µ. Since n > 30, we may use sx for s. (What we are doing is testing to see if the data supports the politician’s claim from a chapter 6 perspective.) 1. What is the critical value, zc for this estimate? zc =___________________ 2. What is the standard deviation of the sampling distribution x ? ? x ? =___________________ 3. What is the best point estimate for the population mean? __________________
Georgia politician claims that the average airfare between Atlanta and Chicago is less than $ 105. Here is a sample of 35 airfares from Atlanta to Chicago in ascending order: (Note: The data presented here is undoubtedly out of date.) 87 87 90 94 94 95 96 98 98 98 99 100 101 101 101 101 102 103 103 103 104 104 104 105 105 105 105 106 107 107 108 109 111 114 117 The (sample) standard deviation for the sample is $ 6.69. We wish to construct a 95% confidence interval for the population mean µ. Since n > 30, we may use sx for s. (What we are doing is testing to see if the data supports the politician’s claim from a chapter 6 perspective.) 1. What is the critical value, zc for this estimate? zc =___________________ 2. What is the standard deviation of the sampling distribution x ? ? x ? =___________________ 3. What is the best point estimate for the population mean? ___________________ 4. What is the margin of error E for a 95% confidence interval for the population mean µ? E = _______________ 5. Give a 95% confidence interval for the population mean µ. ______< µ < _______
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