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 780 dollars. Your advisor also tells you that, for the past 41 months, the scheme had incomes with an average value of 816 dollars and a standard deviation of 92 dollars.(a) Create a 95% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.)

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 780 dollars. Your advisor also tells you that, for the past 41 months, the scheme had incomes with an average value of 816 dollars and a standard deviation of 92 dollars.(a) Create a 95% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.1: Measures Of Center

Problem 4GP

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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 780 dollars. Your advisor also tells you that, for the past 41 months, the scheme had incomes with an average value of 816 dollars and a standard deviation of 92 dollars.

(a) Create a 95% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.)

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