Ashok invested $26400 on 12% ,25 shares of a
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Answer:
The critical value that should be used in constructing the confidence interval is T = 1.316.
The 80% confidence interval for the mean waste recycled per person per day for the population of Montana is between 2.741 pounds and 2.859 pounds.
Step-by-step explanation:
We have the standard deviation for the sample, which means that the t-distribution is used to solve this question.
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So
df = 26 - 1 = 25
80% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 25 degrees of freedom(y-axis) and a confidence level of . So we have T = 1.316
The critical value that should be used in constructing the confidence interval is T = 1.316.
The margin of error is:
In which s is the standard deviation of the sample and n is the size of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 2.8 - 0.059 = 2.741 pounds
The upper end of the interval is the sample mean added to M. So it is 2.8 + 0.059 = 2.859 pounds.
The 80% confidence interval for the mean waste recycled per person per day for the population of Montana is between 2.741 pounds and 2.859 pounds.