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Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 540 dollars. Your advisor also tells you that, for the past 31 months, the scheme had incomes with an average value of 584 dollars and a standard deviation of 93 dollars. (a) Create a 98% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.) 542.9550 625.0450 Your last answer was interpreted as follows: 542.9550 Your last answer was interpreted as follows: 625.0450 (b) Based on this confidence interval, should you invest in this scheme? 00 No, since the interval is completely above 540. Yes, since the interval is completely above 540. No, since the interval contains 540. Yes, since the interval contains 540. Incorrect answer. (a) Lower bound incorrect. Incorrect answer. (a) Upper bound incorrect. Correct answer, well done. (b) Correct.

Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 540 dollars. Your advisor also tells you that, for the past 31 months, the scheme had incomes with an average value of 584 dollars and a standard deviation of 93 dollars. (a) Create a 98% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.) 542.9550 625.0450 Your last answer was interpreted as follows: 542.9550 Your last answer was interpreted as follows: 625.0450 (b) Based on this confidence interval, should you invest in this scheme? 00 No, since the interval is completely above 540. Yes, since the interval is completely above 540. No, since the interval contains 540. Yes, since the interval contains 540. Incorrect answer. (a) Lower bound incorrect. Incorrect answer. (a) Upper bound incorrect. Correct answer, well done. (b) Correct.

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
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Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 540 dollars. Your advisor also tells you that, for the past 31 months, the scheme had incomes with an average value of 584 dollars and a standard deviation of 93 dollars. (a) Create a 98% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.) 542.9550 625.0450 Your last answer was interpreted as follows: 542.9550 Your last answer was interpreted as follows: 625.0450 (b) Based on this confidence interval, should you invest in this scheme? 00 No, since the interval is completely above 540. Yes, since the interval is completely above 540. No, since the interval contains 540. Yes, since the interval contains 540. Incorrect answer. (a) Lower bound incorrect. Incorrect answer. (a) Upper bound incorrect. Correct answer, well done. (b) Correct.
Transcribed Image Text:Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 540 dollars. Your advisor also tells you that, for the past 31 months, the scheme had incomes with an average value of 584 dollars and a standard deviation of 93 dollars. (a) Create a 98% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.) 542.9550 625.0450 Your last answer was interpreted as follows: 542.9550 Your last answer was interpreted as follows: 625.0450 (b) Based on this confidence interval, should you invest in this scheme? 00 No, since the interval is completely above 540. Yes, since the interval is completely above 540. No, since the interval contains 540. Yes, since the interval contains 540. Incorrect answer. (a) Lower bound incorrect. Incorrect answer. (a) Upper bound incorrect. Correct answer, well done. (b) Correct.
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