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Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for...

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Basic Math

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Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 17 mortgage institutions, the mean interest rate was 3.45% and the standard deviation was 0.38%. Assume the interest rates are normally distributed.Which distribution should be used to construct the confidence interval?A. Use a normal distribution because n?30 and the interest rates are normally distributed.B. Use a normal distribution because the interest rates are normally distributed and ? is known.C. Use a t-distribution because it is a random sample, ? is unknown, and the interest rates are normally distributed.D. Use a t-distribution because the interest rates are normally distributed and ? is known.E. Cannot use the standard normal distribution or the t-distribution because ? is unknown, n<30, and the interest rates are not normally distributed.

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