You are renting a moving truck for a day. There is a daily fee of $30 and a charge of $0.65 per mile. Your budget allows a maxim
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Answer:
For a sample size of 10, the t-value is about 3.25 (from tables) at a 99% confidence interval.
Explanation:
When the standard deviation for the population is not known, the confidence interval estimate for the population mean is performed with the Student's t-distribution.
The confidence interval for the mean is calculated as
where
= sample mean,
s = sample standard deviation,
t = t-value (provided in tables),
n = sample size.
When reading the t-value, (n-1) is called the df or degrees of freedom.
For a sample size of 10, the t-value is about 3.25 (from tables) at a 99% confidence interval.
Explanation:
When the standard deviation for the population is not known, the confidence interval estimate for the population mean is performed with the Student's t-distribution.
The confidence interval for the mean is calculated as
where
s = sample standard deviation,
t = t-value (provided in tables),
n = sample size.
When reading the t-value, (n-1) is called the df or degrees of freedom.