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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