In a survey, 15 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $42 and standard deviation of $3. Construct a confidence interval at a 95% confidence level.

Respuesta :

Answer: (40.33, 43.67)

Step-by-step explanation:

Given : Sample size : n= 15<30 , which is a small sample  so we use t-test.

Sample mean : [tex]\overline{x}=42[/tex]

Standard deviation : [tex]\sigma=3[/tex]

Significance level : [tex]\alpha: 1-0.95=0.05[/tex]

Critical value : [tex]t_{n-1,alpha/2}=t_{14,0.025}=2.15[/tex]

The confidence interval for population mean is given by :-

[tex]\overline{x}\pm\ t_{n-1,\alpha/2}\dfrac{\sigma}{\sqrt{n}}\\\\=42\pm(2.15)\dfrac{3}{\sqrt{15}}\\\\\approx42\pm1.67\\\\=(40.33,\ 43.67)[/tex]

Hence, the 95% confidence level. interval for the population mean is (40.33, 43.67).