Arandom sample of 10 parking meters in a beach community showed the following incomes for a day. assume the incomes are normally distributed. $3.60 $4.50 $2.80 $6.30 $2.60 $5.20 $6.75 $4.25 $8.00 $3.00 find the 95% confidence interval for the true mean.

(2.54,6.86)

Step-by-step explanation:

Given : A random sample of 10 parking meters in a beach community showed the following incomes for a day.

We assume the incomes are normally distributed.

Mean income :

Standard deviation :

The confidence interval for the population mean (for sample size <30) is given by :-

Given significance level :

Critical value :

We assume that the population is normally distributed.

Now, the 95% confidence interval for the true mean will be :-

Hence, 95% confidence interval for the true mean= (2.54,6.86)