Which of the following are true? Select one or more: a. The standard deviation of the sample mean will be larger than the popula
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Answer:
a) The value of the sample mean is 50
b) (38.02, 61.98) is the 95% as it covers more values than the other.
Step-by-step explanation:
a) Upper and lower values for the confidence intervals are at the same distance from the mean, as they represent an upper and lower limit for the value, and the most probable value is the one in the middle, which, in a normal distribution is the mean.
As they derive from the same data, both pairs of values should give us the same mean:
b) The percentage of the confidence interval tells us which is the area below the bell curve (of the normal distribution) between the limits given.
One could give a value with a 100% CI, but limits should be minus and plus infinity, and as the interval gets smaller, less values are covered (less area), and less certain we are about our value being inside the interval.
Then, we can say that the widest interval must be the 95% CI, i.e. (38.02, 61.98).
The first thing we must do for this case is to find the conversion of rupees to US dollars.
Currently, the conversion is:
1 rupee = 0.014 $
Then, to find the amount of $ in 2000 rupees, we make the following rule of three:
1 rupee -----------------> 0.014 $
2000 rupees ----------> x
From here, we clear the value of x.
We have then:
Answer:
2,000 rupees are 28 US dollars.