As part of a survey, a marketing representative asks a random sample of 28 business owners how much they would be willing to pay for a website for their company. She finds that the sample standard...

As part of a survey, a marketing representative asks a random sample of

business owners how much they would be willing to pay for a website for their company. She finds that the sample standard deviation is

$3600.

Assume the sample is taken from a normally distributed population. Construct

95%

confidence intervals for (a) the population variance

σ2

and (b) the population standard deviation

σ.

Interpret the results.

(a) The confidence interval for the population variance is ?

Jun 10, 2022

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