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t-distribution and finding probabilities To estimate the average monthly living expenses for a college student in...

t-distribution and finding probabilities

To estimate the average monthly living expenses for a college student in the university you attend, a random sample of 61 students was selected. The resulting average monthly expenses was $1500 with a standard deviation of $1,000. Construct a 90% confidence interval and interpret it.

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Answer #1

from above 90% confidence interval for mean =1286.05 to 1713.95

we have 90% confidence that above interval contain true average monthly expense for a college student in the attended university

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