Mccarthy Mathis
06/24/2024 · Elementary School

You are given the sample mean and the population standard deviation. Use this information to construct the 90 and \( 95 \% \) confidence intervals for the population mean. Interpret the results and compare the widths of the confil intervals. From a random sample of 44 business days, the mean closing price of a certain stock was \( \$ 115.05 \). Assume the population standard deviation is \( \$ 9.77 \). The \( 90 \% \) confidence interval is \( (\square, \square) \). (Round to two decimal places as needed.) The \( 95 \% \) confidence interval is \( (\square, \square) \). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. The \( 90 \% \) confidence interval Therpret the results.

UpStudy ThothAI Solution

Tutor-Verified Answer

Quick Answer

The \(90\%\) confidence interval is \((112.63, 117.47)\) and the \(95\%\) confidence interval is \((112.16, 117.94)\). The \(95\%\) interval is wider. The \(90\%\) interval suggests a \(90\%\) confidence that the true mean lies between \$112.63 and \$117.47, while the \(95\%\) interval suggests a \(95\%\) confidence that the true mean lies between \$112.16 and \$117.94.

Step-by-step Solution

Elevate Your Learning
Unlock full answers and more with UpStudy Premium
Get AI Assistant
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions