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Answer:
The 99% confidence interval for the true mean checking account balance for local customers is ($439.29, $888.99).
Step-by-step explanation:
We have the standard deviation for the sample, which means that the t-distribution is used 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 = 14 - 1 = 13
99% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 13 degrees of freedom(y-axis) and a confidence level of . So we have T = 3.0123
The margin of error is:
In which s is the standard deviation of the sample and n is the size of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 664.14 - 224.85 = $439.29
The upper end of the interval is the sample mean added to M. So it is 664.14 + 224.85 = $888.99.
The 99% confidence interval for the true mean checking account balance for local customers is ($439.29, $888.99).
The theoretical probability that Chandra will be chosen as one of the science fair participants is 0.8 or 80%.
<h3>What is theoretical probability?</h3>Theoretical probability of an event is the ratio of number of favourable outcome to the total expected number of outcome of that event.
Five students, Adriana, Ben, Chandra, Diana, and Ernesto, would each like one of the four spots at the regional science fair.
Their names are placed in a hat, and four names are chosen at random to decide who attends the fair.
- The total number of names are 5.
- The total number of names chosen are 4.
The total number of ways 4 names can be taken out from 5 names is,
.
Here one spot needs to be fixed for Chandra. Now the total number of outcome remain 4 and favourable outcome remain 3.
Thus, the number of ways 4 names can be taken out such that it contains the name Chandra is
.
The theoretical probability that Chandra will be chosen as one of the science fair participants is,
Thus, the theoretical probability that Chandra will be chosen as one of the science fair participants is 0.8 or 80%.
Learn more about the theoretical probability here;
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