If item costs $99.99 with 15% off and I get final price. It then asks me what percentage of savings. How do I get the percentage
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Answer:
And the confidence interval would be between (3.035;3.365)
Step-by-step explanation:
Information given
represent the sample mean
population mean (variable of interest)
s=0.8 represent the sample standard deviation
n=40 represent the sample size
Confidence interval
The confidence interval for the mean is given by the following formula:
(1)
The degrees of freedom are given by:
The Confidence level is 0.80 or 80%, the significance would be and
, and the critical value would be
Now we have everything in order to replace into formula (1):
And the confidence interval would be between (3.035;3.365)