Question

61 random samples of city rent prices are selected from a normally distributed population the samples have a mean of $738 and a standard deviation of $41 construct a 95% confidence interval for the population standard deviation

Answer 1

Answer:

(728, 748)

Step-by-step explanation:

You need the Z value which for 95% confidence interval is 1.96. The mean is $738 and the standard deviation of $41.

$X-Zs/\sqrt{n} \\ X+Zs/\sqrt{n}$

Therefore we can calculated the confidence interval

$738-1.96\cdot{41}/\sqrt{61} =738-10.3$

$738±10.3$

The interval is (728,748)