Question

Listed below are the net worth of top ten celebrity 130, 210, 285, 135, 140, 160,...

Listed below are the net worth of top ten celebrity

130, 210, 285, 135, 140, 160, 155, 150, 175, 125 (in million of dollar)

Find a 99% confidence interval?

Math   Statistics-And-Probability   
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Answer #1

From the sample data,

Sample mean = 166.5

Sample standard deviation S = 48.5369

t critical value at 0.01 level with 9 df = 3.250

99% Confidence interval for is

- t * S / sqrt(n) < < + t * S / sqrt(n)

166.5 - 3.250 * 48.5369 / sqrt(10) < < 166.5 + 3.250 * 48.5369 / sqrt(10)

116.62 < < 216.38

99% CI is ( 116.62 , 216.38 )

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