Asked by Derek Quach on Jun 10, 2024
Verified
The makers of a soft drink want to identify the average age of its consumers.A sample of 55 consumers was taken.The average age in the sample was 21 years with a standard deviation of 4 years.
a.
Construct a 95% confidence interval for the true average age of the consumers.
b.
Construct an 80% confidence interval for the true average age of the consumers.
c.
Discuss why the 95% and 80% confidence intervals are different.
Confidence Interval
A range of values that is used to estimate the true value of a population parameter with a certain level of confidence.
Standard Deviation
An index used to assess the extent of variation or scatter among data points.
- Gain an understanding of the procedure for determining a confidence interval for a population mean.
- Recognize the distinctions in confidence intervals when comparing different confidence levels.
Verified Answer
ED
Eldar Deli?Jun 12, 2024
Final Answer :
a.
19.92 to 22.08 years (rounded)
b.
20.30 to 21.70 years (rounded)
c.
As the level of confidence decreases, the confidence interval gets narrower.
a.
19.92 to 22.08 years (rounded)
b.
20.30 to 21.70 years (rounded)
c.
As the level of confidence decreases, the confidence interval gets narrower.
Learning Objectives
- Gain an understanding of the procedure for determining a confidence interval for a population mean.
- Recognize the distinctions in confidence intervals when comparing different confidence levels.