US Energy Information Administration wants to estimate the average amount of money that a Texan spends on gas in one year. They decide to compute a 95% confidence interval. From a sample of 32 Texans, they calculate a sample mean of $850 and a sample standard deviation of $400. What is the lower limit of their 95% confidence interval?   994.22 850 850 70.71 705.78

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Q: 2. I want to create a confidence interval for the salaries of statistics teachers in America. I want…

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Q: b. between 2 According to Cardweb.com the mean bank credit card debt for households FE07 was $7868…

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Q: construct a 99% confidence interval for the true population mean dog weight.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.