You are grven 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 $123.41. Assume the population standard deviation is $10.64. The 90% confidence interval is ( D. (Round to two decimal places as needed.)
You are grven 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 $123.41. Assume the population standard deviation is $10.64. The 90% confidence interval is ( D. (Round to two decimal places as needed.)
A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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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 44 business days, the mean closing price of a certain stock was $123.41. Assume the population standard deviation is $10.64.
.....
The 90% confidence interval is ( ).
(Round to two decimal places as needed.)
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Expert Solution
Step 1
We have given that,
Sample mean (x̄) = 123.41 and population standard deviation (σ) = 10.64 and sample size (n) = 44
Then,
We will find the 90% and 95% confidence interval for the population mean and it's interpretation also comparing the widths= ?
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