In a random sample of ten cell phones, the mean full retail price was $470.50 and the standard deviation was $182.00.Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a 99% confidence interval for the population mean μ. A) Identify the margin of error. ________ (Square Dollar / Dollar/ Cell Phone) B)Construct a 99% confidence interval for the population mean. C) 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.) A. 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. 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. It can be said that % of the population of cell phones have full retail prices (in dollars) that are between the interval's endpoints. D. %of all random samples of six people from the population of cell phones will have a mean full retail price (in dollars) that is 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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In a random sample of ten cell phones, the mean full retail price was $470.50 and the standard deviation was $182.00.Assume the population is normally distributed and use the t-distribution to find the margin of error and construct a

99% confidence interval for the population mean μ.

A) Identify the margin of error.

________ (Square Dollar / Dollar/ Cell Phone)

B)Construct a 99% confidence interval for the population mean.

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.)

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.

With %confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval's endpoints.

It can be said that % of the population of cell phones have full retail prices (in dollars) that are between the interval's endpoints.

%of all random samples of six people from the population of cell phones will have a mean full retail price (in dollars) that is between the interval's endpoints.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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