Question

STATISTICS*** the average price in dollars of 15 digital cameras, of a certain model is $220.5 and has a standard deviation of 16.6. mean price for this model with 98% confidence. assume variable is normally distributed.

a. $209.14 <u<$231.86

b. $209.43 <u<$231.57

c. $209.35 <u<$231.65

d. $209.25 <u<$231.75

Answer 1

n = 15

= 220.5

s = 16.6

SE = s/

=16.6/ = 4.2861

= 0.02

ndf = n - 1= 15 - 1 = 14

From Table, critical values of t = 2.6245

Confidence Interval:

220.5 ( 2.6245 X 4.2861)

= 220.5 11.2489

= (209.25 , 231.75)

So,

Correct option:

(d)    209.25 < < 231.75