Question

Hii I need your support with this question.
01. Suppose we would like to estimate the mean amount of money (µ) spent on books by students in a semester. We have the following data from 9 randomly selected
students: mean= Rs.2490 and standard deviation = Rs.250. Assume that the amount
spent on books by students is normally distributed. Compute a 95% confidence for
population mean.

Answer 1

3000

Step-by-step explanation:

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Answer 2

Confidence Interval = 2473.67 to 2506.34

∴ Confidence Interval = 32.67

Confidence Interval Formula = Ф ± z* × $\frac{D}{root N}$

where,

Ф = Mean

D = Standard Deviation

N = Sample Size

z* value = 95% confidence corresponding value.

Thus, substituting

Confidence Interval = 2490 ± 1.96 × $\frac{25}{3}$

= 2490 ± 16.34