Answer:
<h2>The demand at a price of $1.50 per cone is 44 cones</h2>Step-by-step explanation:
let us apply the interpolation formula to solve this problem
we have
Now let us set the values to the notation above
x= $1.20
x1= $2.20
x2= $1.50
y = 50 cones
y1= 30 cones
y2= ?
Substituting our given data we have
the demand at a price of $1.50 per cone is 44 cones
Answer:
The upper limit of a 95% confidence interval for the population mean would equal 83.805.
Step-by-step explanation:
The standard deviation is the square root of the variance. Since the variance is 25, the sample's standard deviation is 5.
We have the sample standard deviation, not the population, so we use the t-distribution to solve this question.
T interval:
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 = 15 - 1 = 14
Now, we have to find a value of T, which is found looking at the t table, with 14 degrees of freedom(y-axis) and a confidence level of 0.95(). So we have T = 1.761
The margin of error is:
M = T*s = 1.761*5 = 8.805.
The upper end of the interval is the sample mean added to M. So it is 75 + 8.805 = 83.805.
The upper limit of a 95% confidence interval for the population mean would equal 83.805.