Use the following information to answer the question. According to the website ww.costofwedding.com, the average cost of flowers for a wedding is $698. Recently, in a random sample of 40 weddings in the U.S. it was found that the average cost of the flowers was $734, with a standard deviation of $102. On the basis of this, a 95% confidence interval for the mean cost of flowers for a wedding is $701 to $767. Choose the statement that is the best interpretation of the confidence interval. a) We are extremely confident that the mean cost of flowers at a wedding is between $701 and $767. b) In about 95% of all samples of size 40, the resulting confidence interval will contain the mean cost of flowers at weddings. c) That probability that flowers at a wedding will cost less than $767 is nearly 100%. d) That probability that the flowers at a wedding will cost more than $698 is greater than 5%.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question
Use the following information to answer the question. According to the website ww.costofwedding.com, the average cost of flowers for a wedding is $698. Recently, in a random sample of 40 weddings in the U.S. it was found that the average cost of the flowers was $734, with a standard deviation of $102. On the basis of this, a 95% confidence interval for the mean cost of flowers for a wedding is $701 to $767.

Choose the statement that is the best interpretation of the confidence interval.

a) We are extremely confident that the mean cost of flowers at a wedding is between $701 and $767.
b) In about 95% of all samples of size 40, the resulting confidence interval will contain the mean cost of flowers at weddings.
c) That probability that flowers at a wedding will cost less than $767 is nearly 100%.
d) That probability that the flowers at a wedding will cost more than $698 is greater than 5%.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman