a. We need to construct the 95% confidence interval for the population "\\mu." The following information is provided: "\\bar{X}=43.46,\\sigma=4.36,n=50,\\alpha=0.05"
The critical value for "\\alpha=0.05" is "z_c=z_{1-\\alpha\/2}=1.96." The corresponding confidence interval is computed as shown below:
"=(43.46-1.96\\times{4.36 \\over \\sqrt{50}}, 43.46+1.96\\times{4.36 \\over \\sqrt{50}})\\approx"
"\\approx(42.251,44.669)"
b. Therefore, based on the data provided, the 95% confidence interval for the population mean is "42.251<\\mu<44.669," which indicates that we are 95% confident that the true population mean "\\mu"
is contained by the interval "(42.251,44.669)."
c.
"43.46+1.96\\times{\\sigma \\over \\sqrt{50}}\\geq45"
"\\sigma\\geq{45-43.46 \\over 1.96}\\times\\sqrt{50}"
"\\sigma\\geq5.555839"
"\\sigma\\approx5.56"
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A market research company informs a prospective mini marker entrepreneur that the average income per household in the region is RM60 000 per annum. The household income is assumed to be normally distributed with standard deviation of RM7000, based on an early study. For a random sample of 130 households, the mean household income is found to be RM47 000. Test the null hypothesis that the population mean household income is RM60 000 at 5 percent significance level.
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