A box of 6 trophies costs $5. How much would it cost to buy 48 trophies?
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Answer:
CI = (70.861 , 94.418)
Step-by-step explanation:
In order to determine the 90% confidence interval you use the following formula (for a population approximately normal):
(1)
: mean = 82.64
σ: standard deviation = 14.32
n: sample = 4
α: tail area = 1 - 0.9 = 0.1
Z_α/2 = Z_0.05: Z factor = 1.645
You replace these values and you obtain:
The confidence interval will be:
The 90% confidence interval is (70.861 , 94.418)