Question

In a random sample of 25 spacecrafts, the average cost of a hyperdrive is 5100 Galactic...

In a random sample of 25 spacecrafts, the average cost of a hyperdrive is 5100 Galactic credits and the standard deviation was 600 Galactic credits. Assume the costs of the hyperdrives are normally distributed.  If you construct an 80% confidence interval you have a margin of error of 158.16 credits and a confidence interval of 4941.84 credits to 5258.16 credits.

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Answer #1

Here since we have only sample standard deviation, we don't know the population standard deviation we use Student's t-distribution.

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