You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 44 business days, the mean closing price of a certain stock was $117.38. Assume the population standard deviation is $11.18. Question content area bottom Part 1 The 90% confidence interval is (enter your response here,enter your response here). (Round to two decimal places as needed.) Part 2 The 95% confidence interval is (enter your response here,enter your response here). (Round to two decimal places as needed.) Part 3 Which interval is wider? Choose the correct answer below. The 90% confidence interval The 95% confidence interval Part 4 Interpret the results. A. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. B. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. C. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 40 of the 44 days, and was within the 95% confidence interval for approximately 42 of the 44 days. D. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 44 business days, the mean closing price of a certain stock was $117.38. Assume the population standard deviation is $11.18. Question content area bottom Part 1 The 90% confidence interval is (enter your response here,enter your response here). (Round to two decimal places as needed.) Part 2 The 95% confidence interval is (enter your response here,enter your response here). (Round to two decimal places as needed.) Part 3 Which interval is wider? Choose the correct answer below. The 90% confidence interval The 95% confidence interval Part 4 Interpret the results. A. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. B. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. C. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 40 of the 44 days, and was within the 95% confidence interval for approximately 42 of the 44 days. D. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals.
From a random sample of
44
business days, the mean closing price of a certain stock was
$117.38.
Assume the population standard deviation is
$11.18.
Question content area bottom
Part 1
The 90% confidence interval is
(enter your response here,enter your response here).
(Round to two decimal places as needed.)
Part 2
The 95% confidence interval is
(enter your response here,enter your response here).
(Round to two decimal places as needed.)
Part 3
Which interval is wider? Choose the correct answer below.
The 90% confidence interval
The 95% confidence interval
Part 4
Interpret the results.
You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals.
You can be certain that the closing price of the stock was within the 90% confidence interval for approximately
40
of the
44
days, and was within the 95% confidence interval for approximately
42
of the
44
days.You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
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
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman