To find the 90% confidence interval for the population standard deviation, you randomly sample with replacement from the origina
l sample thousands of times. From each new sample, you compute the sample standard deviation. Using the bootstrap method, how can you find the 90% confidence interval for the population standard deviation from these values?
To find the 90% confidence interval for the population standard deviation, randomly sample with replacement from the original sample thousands of times. From each new sample, you compute the sample standard deviation. Using the bootstrap method, we can find the 90% confidence interval for the population standard deviation,from the values of 5th and the 95th percentile of these values.
So we need to use 5th and the 95th percentile of these values.
The profit they would gain from each year book would be $28 since each year book costs $7 to make and sells for $35. You would simply divide 14,000 by 28 to find how many books they would need to sell in order to get their investment back which would be 500 books.
