Question

The following data represent the prices for a 4 GB flash memory card from online retailers. Treat these data as a simple random sample of all online retailers. It was verified that the data are normally distributed and that s = 2.343 dollars.

12.25	13.49	13.76	14.75	14.99
14.99	15.27	15.95	17.88	20.49

1. Determine the chi-square critical values using a 95% confidence.
2. Construct a 95% confidence interval for the standard deviation price of a 4GB flash memory card.
3. Interpret the interval.
4. Explain the reason why when constructing a confidence interval about a population variance is not of the form “point estimate + margin of error” [5pts]

Answer 1