This is really confusing pls help! :)
2 answers:
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Answer:
c) we are 99% confident that the true mean age of horses with laminitis is between 6.3 and 7.4 years old.
Step-by-step explanation:
Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
represent the sample mean for the sample
population mean (variable of interest)
s represent the sample standard deviation
n represent the sample size
Solution to the problem
The confidence interval for the mean is given by the following formula:
(1)
For this cafter calculate the 99% confidence interval they provided the following results:
And on this case the best interpretation is:
c) we are 99% confident that the true mean age of horses with laminitis is between 6.3 and 7.4 years old.
Because the confidence interval is for the true mean (parameter of interest) not for the all possible horses.
Answer:
$584.41
Step-by-step explanation:
From this information, we can write the following equation:
where t is the number of years.
To find out the amount after 4 years, we can simply plug in 4 for t:
≈ $584.41