Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a99% confidence interval. What does the result tell us about the population of all celebrities? Do the data appear to be from a normally distributed population as required? 267197187170166154149149144144 What is the confidence interval estimate of the population meanμ? $151.1 million<μ<$199.6 million (incorrect numbers when i asked before) **Confidence Interval and Normal Distribution Analysis****1. Confidence Interval Estimation:**What is the confidence interval estimate of the population mean $ \mu $?\[\$ \_\_ \text{ million} < \mu < \$ \_\_ \text{ million}\]*(Round to one decimal place as needed.)***2. Population Analysis:**What does the result tell us about the population of all celebrities? Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice.- **A.** We are 90% confident that the interval from \$ \_\_ million to \$ \_\_ million actually contains the true mean net worth of all celebrities. *(Round to one decimal place as needed.)*- **B.** We are confident that 90% of all celebrities have a net worth between \$ \_\_ million and \$ \_\_ million. *(Round to one decimal place as needed.)*- **C.** Because the ten wealthiest celebrities are not a representative sample, this doesn't provide any information about the population of all celebrities.**3. Normal Distribution Verification:**Do the data appear to be from a normally distributed population as required?- **A.** Yes, because the pattern of the points in the normal quantile plot is reasonably close to a straight line.- **B.** Yes, but the points in the normal quantile plot do not lie reasonably close to a straight line or show a systematic pattern that is a straight line pattern.- **C.** No, but the points in the normal quantile plot lie reasonably close to a straight line and show some systematic pattern that is a straight line pattern.- **D.** No, because the points lie reasonably close to a straight line, but there is a systematic pattern that is not a straight line pattern.

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Description: Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a99% confidence interval. What does the result tell us about the population of all celebrities? Do the data appear to be

The given data set is: 267 197 187 170 166 154 149 149 144 144 Thus, the…

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MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a

99% confidence interval. What does the result tell us about the population of all celebrities? Do the data appear to be from a normally distributed population as required?

267

197

187

170

166

154

149

144

What is the confidence interval estimate of the population mean

μ?

$151.1 million<μ<$199.6 million (incorrect numbers when i asked before)

**Confidence Interval and Normal Distribution Analysis**

**1. Confidence Interval Estimation:**

What is the confidence interval estimate of the population mean $ \mu $?

\[
\$ \_\_ \text{ million} < \mu < \$ \_\_ \text{ million}
\]

*(Round to one decimal place as needed.)*

**2. Population Analysis:**

What does the result tell us about the population of all celebrities? Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice.

- **A.** We are 90% confident that the interval from \$ \_\_ million to \$ \_\_ million actually contains the true mean net worth of all celebrities. *(Round to one decimal place as needed.)*
- **B.** We are confident that 90% of all celebrities have a net worth between \$ \_\_ million and \$ \_\_ million. *(Round to one decimal place as needed.)*
- **C.** Because the ten wealthiest celebrities are not a representative sample, this doesn't provide any information about the population of all celebrities.

**3. Normal Distribution Verification:**

Do the data appear to be from a normally distributed population as required?

- **A.** Yes, because the pattern of the points in the normal quantile plot is reasonably close to a straight line.
- **B.** Yes, but the points in the normal quantile plot do not lie reasonably close to a straight line or show a systematic pattern that is a straight line pattern.
- **C.** No, but the points in the normal quantile plot lie reasonably close to a straight line and show some systematic pattern that is a straight line pattern.
- **D.** No, because the points lie reasonably close to a straight line, but there is a systematic pattern that is not a straight line pattern.

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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