The government claims that students earn a mean of $4500 during their summer break from studies. Afandom sample of students gave a sample average of $3975, and a 95% confidence interval was foundto be $3525 < j<$4425/Which of the following is a correct interpretation of 95% confidence?a. If the study were to be repeated many times, there is a 95% probability that the trueaverage summer earnings is not $4500 as the government claims.b. Because our specific confidence interval does not contain the value $4500 there is a 95%probability that the true average summer earnings is not $4500.If we were to repeat our survey many times, then about 95% of all the confidenceintervals will contain the value $4500.C.d. If we repeat our survey many times, then about 95% of our confidence intervals willcontain the true value of the average earnings of students.There is a 95% probability that the true average earnings are between $3525 and $4425for all students.e.

Given : Confidence level = 95% Confidence interval : $3525 < μ < $4425 To interpret confidence…

Answered: The government claims that students…

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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The com reported the medical doctors’ salary level. The mean salary for the doctor is $250,000 and standard deviation of $100,000. Find the following probabilities assuming that doctor’s salary has a normal distribution. Suppose we don’t have any information about population, and from a sample of 100 doctors, we find the sample mean salary was $255,000 with the standard deviation of $99,500. What is the 95% confidence interval? Based on the standard deviation of $100,000 and allow the margin of errors to $20,000, what is your sample size should be at 95% confidence level.
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A trade magazine routinely checks the drive-through service times upper bound of 163.1 seconds. What does this mean? fast-food restaurants. An 80% confidence interval that results from examining 563 customers in one fast-food chain's drive-through has a lower bound of 159.5 seconds and an Choose the correct answer below. O A. One can be % confident that the mean drive-through service time of this fast-food chain is seconds O B. One can be % confident that the mean drive-through service time of this fast-food chain is between seconds and seconds. O C. The mean drive-through service time of this fast-food chain is seconds % of the time. O D. There is a % probability that the mean drive-through service time of this fast-food chain is between seconds and seconds.
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The government claims that students earn a mean of $4500 during their summer break from studies tandom sample of students gave a sample average of $3975, and a 95% confidence interval was fou to be $3525