Question

Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country. Construct a 99​% confidence interval. What does the result tell us about the population of all​ celebrities? Do the data appear to be from a normally distributed population as​ required? 256 203 185 167 161 153 148 148 148 143

Answer 1

Since we know that

Where n is the number of data points

Now

and n = 10

This implies that

Confidence interval(in %) = 99

Since we know that

Required confidence interval = (171.2-36.3409, 171.2+36.3409)

Required confidence interval = (134.86, 207.54)

With 99​% confidence level the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country is in between 134.86 and 207.54

Yes the data appear to be from a normally distributed population as​ required

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