6. The price of a pack of toilet rolls was increased by 20%.
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Refer to the diagram shown below.
The value of z that yields the expected central area takes into account the excluded areas at both tails.
Half the tail area is α/2 = 0.08/2 = 0.04.
The central area is 1 - 0.04 - 0.04 = 0.92.
From standard normal tables, obtain
z(α/2) = 1.75
Answer: 1.75
The value of z that yields the expected central area takes into account the excluded areas at both tails.
Half the tail area is α/2 = 0.08/2 = 0.04.
The central area is 1 - 0.04 - 0.04 = 0.92.
From standard normal tables, obtain
z(α/2) = 1.75
Answer: 1.75