Suppose taxi fares from Logan Airport to downtown Boston is known to be normally distributed and a sample of seven taxi fares produces a mean fare of $21.51 and a 95% confidence interval of [$20.52, $22.48]. Which of the following statements is a valid interpretation of the confidence interval? a. we are 95% confident that a randomly selected taxi fare will be between $2051 and $2421.
b. 95% of all taxi fares are between $2051 and $2421.
c. We are 95% confident that the average tau fare between Logan Airport and downtown Boston will fall between $2051 and $2421.
d. The mean amount of a taxi fare is $22.31, 95% of the time.

c. We are 95% confident that the average taxi fare between Logan Airport and downtown Boston will fall between $20.51 and $24.21.

Step-by-step explanation:

x% confidence interval:

A confidence interval is built from a sample, has bounds a and b, and has a confidence level of x%. It means that we are x% confident that the population mean is between a and b.

95% confidence interval of [$20.52, $22.48].

We can be 95% sure that the true mean amount of taxis fares in downtown Boston is in this interval, and thus, the correct answer is given by option C.

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500