Suppose another travel industry research company takes a random sample of 51 business travellers in the financial industry and determines that the sample average cost of a domestic trip is $ 1,193, with a sample standard deviation of $ 278. Construct a 98% confidence interval for the population mean from these sample data. Assume that the data are normally distributed in the population. Now go back and examine the $1,250 figure published by Runzheimer International. Does it fall into the confidence interval computed from the sample data? What does this tell you? Round your answers to 2 decimal places. The 98% confidence interval: The figure given by Runzheimer International falls + the confidence interval. There is no reason to + the Runzheimer figure as different from what we are getting based on this sample.

Suppose another travel industry research company takes a random sample of 51 business travellers in the financial industry and determines that the sample average cost of a domestic trip is $ 1,193, with a sample standard deviation of $ 278. Construct a 98% confidence interval for the population mean from these sample data. Assume that the data are normally distributed in the population. Now go back and examine the $1,250 figure published by Runzheimer International. Does it fall into the confidence interval computed from the sample data? What does this tell you? Round your answers to 2 decimal places. The 98% confidence interval: The figure given by Runzheimer International falls + the confidence interval. There is no reason to + the Runzheimer figure as different from what we are getting based on this sample.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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