Question

At the Fall 2017 thoroughbred horse sale held at Keeneland Racetrack a random sample of 250 thoroughbred horse sales prices were recorded. A 95% confidence interval for the mean sale price is $120,487 dollars plus or minus $56,000 dollars. For this example, match the numbers below to the correct statistical terms: 120,487.00 [Choose] 56,000.00 [Choose] 250 [Choose] 95% [Choose]

Answer 1

Given that of o n =250, confidence interval 95 7. ou 95% confidence interval for et $120487 dollars plus or minus 856000 dollars i e (X È M. E) = ($ 120487 + $56000) = where X = $ 120487 margin of essor =ME = $56000 :5 the statistical term used here is sample mean

sample mean = =$ 120487 margin of essor =ME = 56000 sample size = n = 250 confidence interval = c. I = 95 %