Question

a normal distribution has u=20 and o=4

ttempts: Average: 14 Aa Aa 5. Computing a confidence interval Consumers with at least one credit card have a mean of 484 credit cards. [Source: Argawal, S., Driscoll, J. Gabaix, ?., & Laibson, D. (February, 2008), Learning in the creditcard market (Working Paper i 3822), National Bureau of Economic Research (NBER).] A social psychologist wants to estimate how much having a high income (an annual income over $100,000) changes the number of credit cards people have. He obtains a sample of n 100 high-income consumers with at least one credit card and computes a sample mean of M- 5.55 credit cards and a sample standard deviation of s 3 .56. Then uses the sample statistics to construct a 95% confidence interval estimate of the population mean for the number of credit cards held by people with high incomes (who have at least one card). The estimated standard error of M is SH Use the Distributions tool to develop the confidence interval. Select a Distribution Distributions The 95% coneidence interval to This neans that the psychologist can be % conneent tnat the unknown go uistian mean located witnn this

Answer 1

5) gIven : M = 5.55

S = 3.56

n = 100

The estimated standard error of M is Sm = $S / \sqrt n = 3.56 /\sqrt 100$ = 0.356