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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)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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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.) Options available: - Help Me Solve This - View an Example - Get More Help - Clear All - Check Answer © 2021 Pearson Education Inc. All rights reserved.
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.) Options available: - Help Me Solve This - View an Example - Get More Help - Clear All - Check Answer © 2021 Pearson Education Inc. All rights reserved.
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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