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Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 12 mortgage institutions, the mean interest rate was 3.49% and the standard deviation was 0.31%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a normal distribution because the interest rates are normally distributed and a is known. OB. Use a normal distribution because n <30 and the interest rates are normally distributed. OC. Use a t-distribution because the interest rates are normally distributed and a is known. OD. Use a t-distribution because it is a random sample, a is unknown, and the interest rates are normally distributed. OE. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. QA. The 99% confidence interval is (Round to two decimal places as needed) B. Neither distribution can be used to construct the confidence interval. Interpret the results. Choose the correct answer below.

Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 12 mortgage institutions, the mean interest rate was 3.49% and the standard deviation was 0.31%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a normal distribution because the interest rates are normally distributed and a is known. OB. Use a normal distribution because n <30 and the interest rates are normally distributed. OC. Use a t-distribution because the interest rates are normally distributed and a is known. OD. Use a t-distribution because it is a random sample, a is unknown, and the interest rates are normally distributed. OE. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. QA. The 99% confidence interval is (Round to two decimal places as needed) B. Neither distribution can be used to construct the confidence interval. Interpret the results. Choose the correct answer below.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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← Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 12 mortgage institutions, the mean interest rate was 3.49% and the standard deviation was 0.31%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a normal distribution because the interest rates are normally distributed and o is known. OB. Use a normal distribution because n < 30 and the interest rates are normally distributed. OC. Use a t-distribution because the interest rates are normally distributed and σ is known. OD. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. OE. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. A. The 99% confidence interval is ( (Round to two decimal places as needed) OB. Neither distribution can be used to construct the confidence interval. Interpret the results. Choose the correct answer below. hp insert Next 36°C Partly sunny delete
Transcribed Image Text:← Use the standard normal distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 12 mortgage institutions, the mean interest rate was 3.49% and the standard deviation was 0.31%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a normal distribution because the interest rates are normally distributed and o is known. OB. Use a normal distribution because n < 30 and the interest rates are normally distributed. OC. Use a t-distribution because the interest rates are normally distributed and σ is known. OD. Use a t-distribution because it is a random sample, o is unknown, and the interest rates are normally distributed. OE. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. A. The 99% confidence interval is ( (Round to two decimal places as needed) OB. Neither distribution can be used to construct the confidence interval. Interpret the results. Choose the correct answer below. hp insert Next 36°C Partly sunny delete
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