Please answer this sum correctly which is the correct options
1 answer:
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Answer:
We can estimate the margin of error with this formula:
And the margin of error is given by:
And we can rewrite the margin of error like this:
Where
For 95% of confidence the critical value is
The Standard error would be:
For 99% of confidence the critical value is
And the new margin of error would be:
And then the interval would be given by:
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)
The 95% confidence interval is given by (66000 , 70000)
We can estimate the mean with this formula:
We can estimate the margin of error with this formula:
And the margin of error is given by:
And we can rewrite the margin of error like this:
Where
For 95% of confidence the critical value is
The Standard error would be:
For 99% of confidence the critical value is
And the new margin of error would be:
And then the interval would be given by:
Explanation:
The question requires that we round the given number to Ten-thousand
To do so, we will have to write the place values of the numbers first
Next, we find the digits before the Ten-thousand digits and then approximate the value
One of the principles to use is that
numbers from 0 to 4 are rounded to 0
while numbers from 5 to 9 are rounded to 1
In our case, The thousand digit is 0, so we round down to 0, then we add to the Ten-thousand digits and convert each of the numbers before the Ten-thousand digits to 0
Thus, we will have
Hence, the answer is 1,370,000
