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Mathematics, 29.02.2020 06:02 kashusledbetter
Use the standard norml distribution or the t-distribution to construct a 99% confidence interval for the population mean. Justify your decision. If neither distribution. can be used, explain why. Interpret the results. In a random sample of 23 mortgage institutions, the mean interest rate was 3.65% and the standard deviation was 0.46%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval?A. Use a normal distribution because the interest rates are normally distributed and is known. B. Use a t-distribution because it is a random sample, is unknown, and the interest rates are normally distributed. C. Use a normal distribution because n < 30 and the interest rates are normally distributed. D.Use a t-distribution because the interest rates are normally distributed is known. E. Cannot use the standard normal distribution or the t-distribution because is unknown, n <30, and the interest rates are not normally distributed.
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