The value of a car decreases by about 15% in the first year. How much will a car be worth it its initial value was $1,000?
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Answer:
The 99% confidence interval of the population mean for the weights of adult elephants is between 12,475 pounds and 12,637 pounds.
Step-by-step explanation:
We have the standard deviation for the sample, so we use the t-distribution to solve this question.
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So
df = 10 - 1 = 9
99% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 9 degrees of freedom(y-axis) and a confidence level of . So we have T = 3.25
The margin of error is:
M = T*s = 3.25*25 = 81
In which s is the standard deviation of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 12,556 - 81 = 12,475 pounds
The upper end of the interval is the sample mean added to M. So it is 12,556 + 81 = 12,637 pounds.
The 99% confidence interval of the population mean for the weights of adult elephants is between 12,475 pounds and 12,637 pounds.