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Part 2 of 3 O Points: U OT I Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 16 mortgage institutions, the mean interest rate was 3.52% and the standard deviation was 0.34%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? GA. Use a normal distribution because n<30 and the interest rates are normally distributed. B. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. O C. Use a t-distribution because the interest rates are normally distributed and o is known. O D. Use a normal distribution because the interest rates are normally distributed and o is known. O E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n< 30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. O A. The 99% confidence interval is ( ). (Round to two decimal places as needed.) O B. Neither distribution can be used to construct the confidence interval. (1,1) More Clear a

Part 2 of 3 O Points: U OT I Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 16 mortgage institutions, the mean interest rate was 3.52% and the standard deviation was 0.34%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? GA. Use a normal distribution because n<30 and the interest rates are normally distributed. B. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. O C. Use a t-distribution because the interest rates are normally distributed and o is known. O D. Use a normal distribution because the interest rates are normally distributed and o is known. O E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n< 30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. O A. The 99% confidence interval is ( ). (Round to two decimal places as needed.) O B. Neither distribution can be used to construct the confidence interval. (1,1) More Clear a

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Part 2 of 3 Points: U of 1 Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 16 mortgage institutions, the mean interest rate was 3.52% and the standard deviation was 0.34%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? GA. Use a normal distribution becausen<30 and the interest rates are normally distributed. CB. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. O C. Use a t-distribution because the interest rates are normally distributed and o is known. O D. Use a normal distribution because the interest rates are normally distributed and o is known. O E. Cannot use the standard normal distribution or the t-distribution because a is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. O A. The 99% confidence interval is (.). (Round to two decimal places as needed.) O B. Neither distribution can be used to construct the confidence interval. Vi (1,1) More Clear a View an example Get more help - Help me solve this MacBook Air F7 80 F6 F4 F3 esc & % 8 5 6
Transcribed Image Text:Part 2 of 3 Points: U of 1 Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 16 mortgage institutions, the mean interest rate was 3.52% and the standard deviation was 0.34%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? GA. Use a normal distribution becausen<30 and the interest rates are normally distributed. CB. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. O C. Use a t-distribution because the interest rates are normally distributed and o is known. O D. Use a normal distribution because the interest rates are normally distributed and o is known. O E. Cannot use the standard normal distribution or the t-distribution because a is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. O A. The 99% confidence interval is (.). (Round to two decimal places as needed.) O B. Neither distribution can be used to construct the confidence interval. Vi (1,1) More Clear a View an example Get more help - Help me solve this MacBook Air F7 80 F6 F4 F3 esc & % 8 5 6
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