In a survey, 16 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $33 and standard deviation of $4. Construct a confidence interval at a 80% confidence level.
Solution :
t /2,df = 1.341
Margin of error = E = t/2,df * (s /n)
= 1.341 * (4 / 16)
Margin of error = E = 1.34
The 95% confidence interval estimate of the population mean is,
- E < < + E
33 - 1.34 < < 33 + 1.34
31.66 < < 34.34
(31.66 , 34.34)
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