Homework Help is Here – Start Your Trial Now!
Math
Statistics
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 48 business days, the mean closing price of a certain stock was $118.91. Assume the population standard deviation is $10.35. The 90% confidence interval is (Round to two decimal places as needed.) The 95% confidence interval is 1.0. (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 90% confidence interval O The 95% confidence interval Interpret the results.

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 48 business days, the mean closing price of a certain stock was $118.91. Assume the population standard deviation is $10.35. The 90% confidence interval is (Round to two decimal places as needed.) The 95% confidence interval is 1.0. (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 90% confidence interval O The 95% confidence interval Interpret the results.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
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 48 business days, the mean closing price of a certain stock was $118.91. Assume the population standard deviation is $10.35. The 90% confidence interval is ( (Round to two decimal places as needed.) The 95% confidence interval is (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 90% confidence interval O The 95% confidence interval Interpret the results. OA. 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. OB. 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. O C. 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. O D. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 43 of the 48 days, and was within the 95% confidence interval for approximately 46 of the 48 days.
Transcribed Image Text: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 48 business days, the mean closing price of a certain stock was $118.91. Assume the population standard deviation is $10.35. The 90% confidence interval is ( (Round to two decimal places as needed.) The 95% confidence interval is (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 90% confidence interval O The 95% confidence interval Interpret the results. OA. 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. OB. 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. O C. 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. O D. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 43 of the 48 days, and was within the 95% confidence interval for approximately 46 of the 48 days.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE 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
SEE MORE TEXTBOOKS