Question

Listed below are the amounts of net worth (in Millions of dollars) of the ten wealthiest celebrities in a country. Construct a 95% confidence interval. What does the result tell us about the population of all celebrities? Do the data appear to be from a normally distributed population as required? 269 214 194 168 166 161 146 146 146 146 What is the confidence interval estimate of the population mean u? million <<$ million (Round to one decimal place as needed.)

Answer 1

sr.no.	x	x-x̅	(x-x̅)^2
1	269	93.40	8723.56
2	214	38.40	1474.56
3	194	18.40	338.56
4	168	-7.60	57.76
5	166	-9.60	92.16
6	161	-14.60	213.16
7	146	-29.60	876.16
8	146	-29.60	876.16
9	146	-29.60	876.16
10	146	-29.60	876.16
Total	1756		14404.40
mean=x̅	Total/10
x̅=	175.60

x = 0.05 Ex= 1756 n=lo {(x-7) 2 = 14 404.40 x = EX = 1756 = 175.6 1 s={(x-X) ² |14404.40 11660.489 margin of error = E= tn-i, og 9 = t101,0.05 ज = tg, 0.025 (40.006) (640.006) To = (2,262) (12.651) 3,1623 E = 28.6 95% confidence interval for u is (X-t X +E) (175.6 – 28.6 175.6 +28,6) (147 204.2) 1 $ 1144 million &/204.2 million.