### Stock Prices AnalysisA random sample of stock prices per share (in dollars) is shown below. The task is to find the 95% confidence intervals for the variance and standard deviation of the prices. It is assumed that the variable is normally distributed. Round the sample variance and final answers to three decimal places.#### Stock Prices Sample Data (in dollars):```43.00, 47.50, 7.50, 75.3712.00, 28.37, 13.88, 26.6914.75, 46.12, 10.87, 40.2560.50, 28.00, 28.25, 6.9445.12```Below the data, there are boxes where students can input their calculated confidence intervals for variance $\sigma^2$ and standard deviation $\sigma$:```< σ² << σ <```### Instructions:1. **Calculate the Sample Variance**: - Compute the mean of the sample data. - Subtract the mean from each sample data point and square the result. - Sum these squared differences. - Divide by the number of data points minus one (N - 1) for variance. 2. **Construct the 95% Confidence Interval for Variance**: - Use the Chi-square distribution to find the critical values for the confidence interval. - Apply the formula to find the lower and upper bounds of the confidence interval for variance.3. **Find the Confidence Interval for Standard Deviation**: - Take the square root of the lower and upper bounds of the variance confidence interval to get the confidence interval for the standard deviation.Ensure your calculations are rounded to three decimal places and input your results in the provided boxes.

Answered: Stock Prices A random sample of stock…

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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