For this problem, the confidence interval is the one we are looking
for. Since the confidence level is not given, we assume that it is 95%.
The formula for the confidence interval is: mean ± t (α/2)(n-1) * s √1 + 1/n
Where:
<span>
</span>
α= 5%
α/2
= 2.5%
t
0.025, 19 = 2.093 (check t table)
n
= 20
df
= n – 1 = 20 – 1 = 19
So plugging in our values:
8.41 ± 2.093 * 0.77 √ 1 + 1/20
= 8.41 ± 2.093 * 0.77 (1.0247)
= 8.41 ± 2.093 * 0.789019
= 8.41 ± 1.65141676
<span>= 6.7586 < x < 10.0614</span>
Answer:
Lower bound=$2.15×10
Upper bound=$2.25×10
Step-by-step explanation:
A milloniare estimates her wealth to be $2.2×10 to the nearst million dollars.
In other words, his worth is $22 to the nearst million dollars.
To find the lower bound of the millionaire's wealth, we divide the level of precision by 2 and subtract from the millionaire's wealth.
Lower bound= 22-0.5=21.5 million dollars.
To find the upper upper bound, we add half of the level of precision to her estimate.
Upper bound =22+0.5=22.5 million dollars
The base is 6 so you'll need to replace b with 6 and the height is 8 so you'll need to replace h with 8.
