How much money do people spend on graduation gifts? In 2007, a federation surveyed 2215 consumers who reported that theybought one or more graduation gifts that year. The sample was selected in a way designed to produce a sample representativeof adult Americans who purchased graduation gifts in 2007. For this sample, the mean amount spent per gift was $56.65.Suppose that the sample standard deviation was $20. Construct a 98% confidence interval for the mean amount of moneyspent per graduation gift in 2007. (Round your answers to three decimal places.)()Interpret the interval.We are confident that 98% of the amount of money spent per graduation gift in 2007 was within this interval.We are confident that the mean amount of money spent per graduation gift in 2007 was within this interval 98% of thetime.We are 98% confident that the mean amount of graduation money spent was within this interval.We are 98% confident that the mean amount of money spent per graduation gift in 2007 was within this interval.

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Answered: How much money do people spend on…

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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Suppose a study was conducted of community colleges in California to determine the average cost of tuition for in-state students. The study consisted of 45 community colleges from California. Based on the sample data, the average tuition was $1,440 and the standard deviation was $267. Use this information to construct and interpret a 92% confidence interval for the true average tuition of all California community colleges. Make sure to check any relevant assumptions and state how you determined whether or not they were satisfied (Be as specific as possible). Make sure to type your confidence interval in an interval format with each bound rounded to 3 decimal places [i.e. (12.345, 45.678)]
College tuition: A simple random sample of 40 colleges and universities in New York State has a mean tuition of $30,503 with a standard deviation of $6,372. Construct an 80% confidence interval for the mean tuition for all colleges and universities in New York State. An 80% confidence interval for the mean tuition for all colleges and universities is
In a survey, 37 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $52 and standard deviation of $20.Calculate, state, and interpret a 95% confidence interval to estimate the mean amount of money parents spend on their child's birthday gift. Round to the nearest 100th where necessary.
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In a survey, 23 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $49 and standard deviation of $4. Find the margin of error at a 98% confidence level.Give your answer to two decimal places.
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In a survey, 21 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $42 and standard deviation of $4. Find the margin of error at a 80% confidence level. Give your answer to two decimal places.
In a survey, 40 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $56 and standard deviation of $6. Calculate, state, and interpret a 95% confidence interval to estimate the mean amount of money parents spend on their child's birthday gift. Round to the nearest 100th where necessary.
In a survey, 41 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $36 and standard deviation of $4. Find the margin of error for a 95% confidence level.
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In a survey, 31 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $48 and standard deviation of $3. Find the margin of error at a 90% confidence level. Give your answer to two decimal places. Calculator Submit Question

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