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...


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 confidence intervals.<br>From a random sample of 34 business days, the mean closing price of a certain stock was $118.84. Assume the population standard deviation is $10.49.<br>The 90% confidence interval is (<br>(Round to two decimal places as needed.)<br>The 95% confidence interval is (.O<br>(Round to two decimal places as needed.)<br>Which interval is wider? Choose the correct answer below.<br>O The 95% confidence interval<br>O The 90% confidence interval<br>Interpret the results.<br>O A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 31 of the 34 days, and was within the 95% confidence interval for approximately 32 of the 34 days.<br>O B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.<br>OC. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals.<br>O D. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval.<br>

Extracted text: 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 confidence intervals. From a random sample of 34 business days, the mean closing price of a certain stock was $118.84. Assume the population standard deviation is $10.49. The 90% confidence interval is ( (Round to two decimal places as needed.) The 95% confidence interval is (.O (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. O The 95% confidence interval O The 90% confidence interval Interpret the results. O A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 31 of the 34 days, and was within the 95% confidence interval for approximately 32 of the 34 days. O B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval. OC. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals. O D. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval.

Jun 08, 2022
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