Find the 90 confidence interval for the mean cost of selecte
Find the 90% confidence interval for the mean cost of selected pairs of shoes. He selects a random sample of 36 pairs of shoes from a catalog and finds the following costs (in dollars) as shown below.
60 70 75 55 80 55
50 40 80 70 50 95
120 90 75 85 80 60
110 65 80 85 85 45
75 60 90 90 60 95
110 85 45 90 70 70
Solution
sample mean=75
sample standard deviation=19.16097
Given a=1-0.9=0.1, Z(0.05) = 1.645 (from standard normal table)
So the lower bound is
xbar - Z*s/vn =75 -1.645*19.16097/sqrt(36 ) =69.7467
So the upper bound is
xbar + Z*s/vn =75 +1.645*19.16097/sqrt(36 ) =80.2533
