Constance invested $4000 for 3 years in a savings account paying simple interest with a yearly interest rate of 3.5%. How much s
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Answer:
The upper boundary of the 95% confidence interval for the average unload time is 264.97 minutes
Step-by-step explanation:
We have the standard deviation for the sample, but not for the population, so we use the students t-distribution 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 = 35 - 1 = 35
95% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 34 degrees of freedom(y-axis) and a confidence level of ). So we have T = 2.0322
The margin of error is:
M = T*s = 2.0322*30 = 60.97
The upper end of the interval is the sample mean added to M. So it is 204 + 60.97 = 264.97
The upper boundary of the 95% confidence interval for the average unload time is 264.97 minutes