Question

In a random sample of

100100

audited estate tax​ returns, it was determined that the mean amount of additional tax owed was

​$34663466

with a standard deviation of

​$25272527.

Construct and interpret a​ 90% confidence interval for the mean additional amount of tax owed for estate tax returns.

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Click the icon to view the​ t-distribution table.

The lower bound is ______

The upper bound is ______

Answer 1

n= 100 ,   = 3466 , s= 2527

c= 90%

formula for confidence interval is

Where tc is the t critical value for c=90% with df=n-1 = 100 -1 = 99

in table ther is no df=99 hence look for df less than 99

using t table we get critical value as

tc = 1.664

3045.5072 <    < 3886.4928

round it to neaest cent

The lower bound is = $ 3045.51

The upper bound is = $ 3886.49