Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a 95% 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? 245 210 186 168 166 163 156 156 156 156 What is the confidence interval estimate of the population mean μ? $enter your response here million<μ<$enter your response here million (Round to one decimal place as needed.) 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 95%confident that the interval from $enter your response here million to $enter your response here million actually contains the true mean net worth of all celebrities. (Round to one decimal place as needed.) B. Because the ten wealthiest celebrities are not a representative sample, this doesn't provide any information about the population of all celebrities. C. We are confident that 95% of all celebrities have a net worth between $enter your response here million and $enter your response here million. (Round to one decimal place as needed.)

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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Question

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

95%

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?

245

210

186

168

166

163

156

What is the confidence interval estimate of the population mean

μ?

$enter your response here

million<μ<$enter your response here

million

(Round to one decimal place as needed.)

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.

We are 95%confident that the interval from $enter your response here million to $enter your response here
million actually contains the true mean net worth of all celebrities.

(Round to one decimal place as needed.)

Because the ten wealthiest celebrities are not a representative sample, this doesn't provide any information about the population of all celebrities.

We are confident that 95% of all celebrities have a net worth between $enter your response here million and

$enter your response here

million.

(Round to one decimal place as needed.)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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