Consider the following summary of a data set on the weekly earnings (in hundreds of dollars) of residents of NSW with a colleague degree: Number of observations : 25 Sample mean : 20.5 Sample standard deviation : 8 We assume that the weekly earning in the population is normally distributed with unknown mean and unknown variance. Please select the correct 95% confidence interval for the mean of the weekly earning (in hundreds of dollars) in the population. Group of answer choices [17.2, 23.8] [17.8, 23.2] [19.8, 21.2] [20.0, 21.0] [6.8, 34.2]
Question
Consider the following summary of a data set on the weekly earnings (in hundreds of dollars) of residents of NSW with a colleague degree:
Number of observations : 25 Sample mean : 20.5 Sample standard deviation : 8 We assume that the weekly earning in the population is normally distributed with unknown mean and unknown variance.
Please select the correct 95% confidence interval for the mean of the weekly earning (in hundreds of dollars) in the population.
Group of answer choices
[17.2, 23.8]
[17.8, 23.2]
[19.8, 21.2]
[20.0, 21.0]
[6.8, 34.2]
Solution
To find the 95% confidence interval for the mean of the weekly earning, we can use the formula for a confidence interval:
CI = x̄ ± Z * (s/√n)
where:
- x̄ is the sample mean
- Z is the Z-score (for a 95% confidence interval, Z = 1.96)
- s is the sample standard deviation
- n is the number of observations
Substituting the given values into the formula:
CI = 20.5 ± 1.96 * (8/√25)
Solving the equation:
CI = 20.5 ± 1.96 * (8/5)
CI = 20.5 ± 3.136
So, the 95% confidence interval for the mean of the weekly earning is [17.364, 23.636].
The closest answer choice to this is [17.2, 23.8].
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