A sample of 20 international students attending an urban U.S. university found that the average amount budgeted for expenses per month was $ XXXXXXXXXXwith a standard deviation of $ XXXXXXXXXXFind a...

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A sample of 20 international students attending an urban U.S. university found that the average amount budgeted for expenses per month was $1612.50 with a standard deviation of $1179.64. Find a 95% confidence interval for the mean monthly expense budget of the population of international students. Use the appropriate formula and verify your result using the Confidence Intervals workbook.




Answered Same DayDec 25, 2021

Answer To: A sample of 20 international students attending an urban U.S. university found that the average...

Robert answered on Dec 25 2021
140 Votes
Number (n) =20
Class Interval (C I) =0.95(95/100=0.95)
Mean =1612.50
S.D = 1179.60
α=0.05 (
1.00 -0.95=0.05)
=0.05/2
=0.025
1-0.025=0.975
0.975=1.96( taken from normal distribution table)
1612.50 – (1.96 * 1179.64 / square root 20< µ<1612.50 +(1.96 * 1179.64 / square root 20)
=...
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