Calculate the upper and lower limit for a 95% confidence interval about this mean.
a fam...
Mathematics, 26.09.2019 05:00 ozzy1146
Calculate the upper and lower limit for a 95% confidence interval about this mean.
a family needs a new car, but isn't sure they can fit the payment into their budget. a sample of 36 months of grocery bills yields a mean of $94 with a standard deviation of $10. if the upper limit of a 95% confidence level is below $100, the family can afford to buy the car.
standard error = (standard deviation)/(square root of sample size)
upper limit (dollars and cents)
lower limit (dollars and cents)
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