Question

Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest...

Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country. Construct a

90​%

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?

260

198

196

167

162

158

157

157

152

152

What is the confidence interval estimate of the population mean

μ​?

​$nothing

million<μ<​$nothing

million

​(Round to one decimal place as​ needed.)

Homework Answers

Answer #1

using excel>addin>phstat>confidence interval

we have

Confidence Interval Estimate for the Mean
Data
Sample Standard Deviation 34.9646647
Sample Mean 178.5555556
Sample Size 9
Confidence Level 90%
Intermediate Calculations
Standard Error of the Mean 11.65488823
Degrees of Freedom 8
t Value 1.8595
Interval Half Width 21.6728
Confidence Interval
Interval Lower Limit 156.88
Interval Upper Limit 200.23

the confidence interval estimate of the population mean is 156.9< <200.2

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