Post a New Question

statistics

posted by .

The average price for new mobile homes is known to be distributed with a standard deviation of 350. if a random sample of 49 homes resulted in a sample mean of 38500, obtain a 90% confidence interval on the population mean.

  • statistics -

    Formula:

    CI90 = mean + or - 1.645 (sd/√n)
    ...where + or - 1.645 represents the 90% confidence interval using a z-table, sd = standard deviation, and n = sample size.

    Substituting:
    CI90 = 38500 + or - 1.645 (350/√49)

    Finish the calculation.

    I hope this will help get you started.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question