Nate's savings account for the business had $12.10 more at the end of the year than the $252 it had at the begining of the year.
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Answer:
Step-by-step explanation:
Given : A new catalyst is being investigated for use in the production of a plastic chemical. Ten batches of the chemical are produced. The mean yield of the 10 batches is 72.5% and the standard deviation is 5.8%. Assume the yields are independent and approximately normally distributed.
To find : A 99% confidence interval for the mean yield when the new catalyst is used ?
Solution :
Let X be the yield of the batches.
We have given, n=10 , , s=5.8%
Since the size of the sample is small.
We will use the student's t statistic to construct a 995 confidence interval.
From the t-table with 9 degree of freedom for
The 99% confidence interval is given by,