Question
The marketing department of a manufacturing company wanted to find out how many blank video cassettes...
The marketing department of a manufacturing company wanted to find out how many blank video cassettes are purchased by the average American each year. The data for a random sample of Americans are as follows: 7, 0, 6, 3, 10, 0, 4, 9, 6, 3, 12, 0, 5, 1, 8, 6 (n = 16). What are the limits of the 99% confidence interval for the mean of the population? PLEASE SHOW ALL WORK!
Homework Answers
Answer #1
We have for given data,
Sample mean =5
Sample standard deviation =3.71
Sample size =16
Level of significance=1-0.99=0.01
Degree of freedom =15
t critical value is (by using t table)=
2.947
Confidence interval formula is
=(2.2667,7.7333)
Lower confidence limit=2.27
Upper confidence limit=7.73
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