a bike store marks up the wholesale cost of all bikes by 30%. Calvin wants to buy a bike that has a price tag of $125. What was
2 answers:
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Answer:
95 percent confidence interval for μ is determined by
(60.688 , 69.312)
a) be the same
Step-by-step explanation:
<u>Step (i)</u>:-
Given data a random sample of 121 automobiles traveling on an interstate showed an average speed of 65 mph.
The sample size is n= 121
The mean of the sample x⁻ = 65mph.
The standard deviation of the population is 22 mph
σ = 22mph
<u>Step (ii) :</u>-
Given The 95 percent confidence interval for μ is determined as
(61.08, 68.92)
we are to reduce the sample size to 100 (other factors remain unchanged) so
given The sample size is n= 100
The mean of the sample x⁻ = 65mph.
The standard deviation of the population is 22 mph
σ = 22mph
<u>Step (iii)</u>:-
95 percent confidence interval for μ is determined by
(65 - 4.312 ,65 +4.312)
(60.688 , 69.312) ≅(61 ,69)
This is similar to (61.08, 68.92) ≅(61 ,69)
<u>Conclusion</u>:-
it become same as (61.08, 68.92)