Question

Small Mean Problem. Grandfather clocks have a particular market in auctions. You are given a random sample of 21 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are:

Mean = $1,343.04

Std Dev = $414.04

C.V. = 30.83

N = 21

You are asked to create a 90% Confidence Interval around the price for this sample.

The Lower Value for this confidence interval is? I just want the answer. Use 3 decimal places for your answer and use the proper rules of rounding.

Snartwork5 WileyPLUS Question 26 University of Dela... D Small Mean Problem. Grandfather clocks have a particular market in auctions. You are given a random sample of 21 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are: • Mean = $1,343.04 • Std Dev = $414.04 • C.V. - 30.83 • N=21 You are asked to create a 90% Confidence interval around the price for this sample. The Lower Value for this confidence interval is? I just want the answer. Use 3 decimal places for your answer and use the proper rules of rounding. 3 pts Question 27

Answer 1

Page No Date mean = X = $ 1343.04 Std dev = S $419.06 cov 30.83 N = 21 df = N-1= 21-1=20 90% c.l. is, x 1 taz, nyx s 1343.04 to:1/2,20 * 414.06 J2l 1343.04 1.72 X 90.3509 1343.04th 155.8553 (1343.04-155.8553, 1343.04t 155-8553) ( 1187.1847 1498.8953) 1187.1847 L ll < 1498.8953 lower bound = 1187.1847 bound = 1498.8953.