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Andreas93 [3]
3 years ago
13

Suppose that you are a city planner who obtains and sample of 20 randomly selected members of a mid-sized town in order to deter

mine the average amount of money that residents spend on transportation each month (such as fuel, vehicle repairs, and public transit). You do not have the population standard deviation. To 3 decimal places, what is the critical value for the 95% confidence interval
Mathematics
1 answer:
Dmitry_Shevchenko [17]3 years ago
5 0

Answer:

The critical value for the 95% confidence interval is z = 1.96.

Step-by-step explanation:

We have that to find our \alpha level, that is the subtraction of 1 by the confidence interval divided by 2. So:

\alpha = \frac{1-0.95}{2} = 0.025

Now, we have to find z in the Ztable as such z has a pvalue of 1-\alpha

So it is z with a pvalue of 1-0.025 = 0.975, so z = 1.96.

The critical value for the 95% confidence interval is z = 1.96.

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