Answered: Suppose we want a 95% confidence…

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

Suppose we want a 95% confidence interval for the average amount spent on books by freshmen in their first year at college. The amount spent has a normal distribution with standard deviation $22.

(a) How large should the sample be if the margin of error is to be less than $2? Use at least 3 decimal places in your critical value.
ANSWER:

(b) If we wanted a smaller margin of error, we would need a sample. (Enter: ''LARGER'', ''SMALLER'' or ''SAME SIZE'', without the quotes.)

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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