The prices of used books at a large college bookstore are normally distributed. If a sample of 23 used books from this store has a mean price of $27.50 with a standard deviation of $6.75, use Table 10.1 to calculate the following for a 95% confidence level about the population mean. a. Degrees of freedom b. The critical value of t c. The margin of error d. The confidence interval for a 95% confidence level
The prices of used books at a large college bookstore are normally distributed. If a sample of 23 used books from this store has a mean price of $27.50 with a standard deviation of $6.75, use Table 10.1 to calculate the following for a 95% confidence level about the population mean. a. Degrees of freedom b. The critical value of t c. The margin of error d. The confidence interval for a 95% confidence level
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The prices of used books at a large college bookstore are
a. Degrees of freedom
b. The critical value of t
c. The margin of error
d. The confidence interval for a 95% confidence level

Transcribed Image Text:### Table 10.1: Critical t Values
#### Description
This table provides t-critical values for different degrees of freedom (df) at a significance level of 0.05 for both one-tailed and two-tailed tests.
#### How to Use the Table:
- **Degrees of Freedom (df)**: This is typically calculated as the sample size (n) minus 1 (df = n - 1).
- **Two-Tailed Test**: If you are conducting a two-tailed test with a 0.05 significance level, locate the critical value under the column labeled "0.05 area in two tails".
- **One-Tailed Test**: If you are conducting a one-tailed test with a 0.05 significance level, locate the critical value under the column labeled "0.05 area in one tail".
#### Table:
| Degrees of Freedom (n – 1) | 0.05 area in two tails | 0.05 area in one tail | Degrees of Freedom (n – 1) | 0.05 area in two tails | 0.05 area in one tail |
|---|---|---|---|---|---|
| 1 | 12.706 | 6.314 | 28 | 2.048 | 1.701 |
| 2 | 4.303 | 2.920 | 29 | 2.045 | 1.699 |
| 3 | 3.182 | 2.353 | 30 | 2.042 | 1.697 |
| 4 | 2.776 | 2.132 | 31 | 2.040 | 1.696 |
| 5 | 2.571 | 2.015 | 32 | 2.037 | 1.694 |
| 6 | 2.447 | 1.943 | 33 | 2.035 | 1.692 |
| 7 | 2.365 | 1.895 | 34 | 2.032 | 1.691 |
| 8 | 2.306 | 1.860 | 35 | 2.030 | 1.690 |
| 9 | 2.262 | 1.833
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