Veronica bought 20 bags of candy for a school dance the first 5 bags cost $1.79 each the rest of the bags cost $1.19 each how mu
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Answer:
The confidence interval for the mean is given by the following formula:
(1)
The 90% confidence interval for this case would be (38.01, 44.29) and is given.
The best interpretation for this case would be: We are 90% confident that the true average is between $ 38.01 and $ 44.29 .
And the best option would be:
The store manager is 90% confident that the average amount spent by all customers is between S38.01 and $44.29
Step-by-step explanation:
Assuming this complete question: Which statement gives a valid interpretation of the interval?
The store manager is 90% confident that the average amount spent by the 36 sampled customers is between S38.01 and $44.29.
There is a 90% chance that the mean amount spent by all customers is between S38.01 and $44.29.
There is a 90% chance that a randomly selected customer will spend between S38.01 and $44.29.
The store manager is 90% confident that the average amount spent by all customers is between S38.01 and $44.29
Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
Solution to the problem
The confidence interval for the mean is given by the following formula:
(1)
The 90% confidence interval for this case would be (38.01, 44.29) and is given.
The best interpretation for this case would be: We are 90% confident that the true average is between $ 38.01 and $ 44.29 .
And the best option would be:
The store manager is 90% confident that the average amount spent by all customers is between S38.01 and $44.29
The binomial probability is determined by the formula
Here, we will assume that finding the flaw is the "success" of the trial hence the following given
Finding the probability of one flawed scarf
Finding the probability of no flawed scarves
Finding the probability of more then three flawed scarves