### Confidence Interval and Margin of Error Calculation in Statistics#### Problem Statement:In a random sample of eleven cell phones, the mean full retail price was $514.00 and the standard deviation was $163.00. Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a 90% confidence interval for the population mean $ \mu $. Interpret the results.#### Tasks:1. **Identify the Margin of Error:** - A box where the margin of error can be inputted. - Instruction: (Round to one decimal place as needed.)2. **Construct a 90% Confidence Interval for the Population Mean:** - Two boxes where the lower and upper bounds of the confidence interval can be inputted. - Instruction: (Round to one decimal place as needed.)3. **Interpret the Results:** - Multiple-choice instruction to fill in the correct numerical values or statements. - (Type an integer or a decimal. Do not round.)#### Multiple-Choice Options for Interpretation:A. It can be said that $ \_\_\_ $% of the population of cell phones have full retail prices (in dollars) that are between the interval’s endpoints.B. With $ \_\_\_ $% confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval’s endpoints.C. With $ \_\_\_ $% confidence, it can be said that most cell phones in the population have full retail prices (in dollars) that are between the interval’s endpoints.#### Visual Description:- The page contains several rectangular input boxes where users are required to fill in calculated values such as the margin of error and the two endpoints of the confidence interval.- Multiple-choice answers contain slots where users can type the specific confidence level and other numerical values relevant to the interpretation.### Instructions for Students:1. Calculate the margin of error using the given data (mean, standard deviation, sample size) and the t-distribution critical value for a 90% confidence level.2. Construct the confidence interval by adding and subtracting the margin of error from the sample mean.3. Interpret the results accurately with the interpretation options given, selecting the correct confidence level (90% in this case) and completing the statement with the corresponding numerical value. ### Confidence Interval Construction and Interpretation for Cell Phone Retail PricesIn a random sample of eleven cell phones, the mean full retail price was $514.00 and the standard deviation was $163.00. Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a 90% confidence interval for the population mean $ \mu $. Interpret the results.**Steps to Follow:**1. **Find the Margin of Error:** - Round to one decimal place as needed.2. **Construct the 90% Confidence Interval:** - The confidence interval should be represented as $ (\text{lower bound}, \text{upper bound}) $. - Round to one decimal place as needed.3. **Interpret the Results:** - Select the correct interpretation from the choices below and fill in the answer box to complete your choice. - (Type an integer or a decimal. Do not round.)**Options:**- **A.** It can be said that $ \Box $% of the population of cell phones have full retail prices (in dollars) that are between the interval's endpoints.- **B.** With $ \Box $% confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval's endpoints.- **C.** With $ \Box $% confidence, it can be said that most cell phones in the population have full retail prices (in dollars) that are between the interval's endpoints.- **D.** $ \Box $% of all random samples of eleven people from the population of cell phones will have a mean full retail price (in dollars) that is between the interval's endpoints.**Please select your answer(s) by clicking the corresponding option(s).**

Answered: Image /qna-images/answer/2b50cce6-ecfa-48db-a9f4-7b9cb0c8d2de.jpg

In a random sample of eleven cell phones, the mean full retail price was $514.00 and the standard deviation was $163.00. Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a 90% confidence interval for the population mean p. Interpret the results. Identify the margin of error. (Round to one decimal place as needed.) Construct a 90% confidence interval for the population mean. (Round to one decimal place as needed.) Interpret the results. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or a decimal. Do not round.) O A. It can be said that % of the population of cell phones have full retail prices (in dollars) that are between the interval's endpoints. O B. With % confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval's endpoints. O C. With % confidence, it can be said that most cell phones in the population have full retail prices (in dollars) that are between the interval's endpoints.

In a random sample of eleven cell phones, the mean full retail price was $514.00 and the standard deviation was $163.00. Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a 90% confidence interval for the population mean p. Interpret the results. Identify the margin of error. (Round to one decimal place as needed.) Construct a 90% confidence interval for the population mean. (Round to one decimal place as needed.) Interpret the results. Select the correct choice below and fill in the answer box to complete your choice. (Type an integer or a decimal. Do not round.) O A. It can be said that % of the population of cell phones have full retail prices (in dollars) that are between the interval's endpoints. O B. With % confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval's endpoints. O C. With % confidence, it can be said that most cell phones in the population have full retail prices (in dollars) that are between the interval's endpoints.

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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