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In a random sample of five microwave​ ovens, the mean repair cost was $60.00 and the...

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Basic Math

In a random sample of five microwave​ ovens, the mean repaircost was $60.00 and the standard deviation was $11.50

Assume the population is normally distributed and use a​t-distribution to construct a 90​% confidence interval for thepopulation mean μ. What is the margin of error of μ​? Interpret theresults.

(a)The confidence interval for the population mean is _,_   ​(Round to one decimal place as​ needed.)

(b)The margin of error is _ ​(Round to two decimal places as​needed.)

(c) Interpret the results. Choose the correct answer below:

1. It can be said that 95​% of microwaves have a repair costbetween the bounds of the confidence interval.

2.With 95​% confidence, it can be said that the population meanrepair cost is between the bounds of the confidence interval.

3.With 95​% confidence, it can be said that the repair cost isbetween the bounds of the confidence interval.

4.If a large sample of microwaves are taken approximately 95​%of them will have repair costs between the bounds of the confidenceinterval.

Answer & Explanation Solved by verified expert
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Solution Given thata Point estimate sample mean 6000sample standard deviation s 1150sample size n    See Answer
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