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? 254 204 186 161 160 156 154 154 154 149 What is the confidence interval estimate of the population mean mu​? ​$ nothing millionless thanmuless than​$ nothing million ​(Round to one decimal place as​ needed.) What does the result tell us about the population of all​ celebrities? Select the correct choice below​ and, if​ necessary, fill in the answer​ box(es) to complete your choice. A. We are 95​% confident that the interval from ​$ nothing million to ​$ nothing million actually contains the true mean net worth of all celebrities. ​(Round to one decimal place as​ needed.) B. Because the ten wealthiest celebrities are not a representative​ sample, this​ doesn't provide any information about the population of all celebrities. C. We are confident that 95​% of all celebrities have a net worth between ​$ nothing million and ​$ nothing million. ​(Round to one decimal place as​ needed.) Do the data appear to be from a normally distributed population as​ required? A. ​No, but the points in the normal quantile plot lie reasonably close to a straight line and show some systematic pattern that is a straight line pattern. B. ​Yes, but the points in the normal quantile plot do not lie reasonably close to a straight line or show a systematic pattern that is a straight line pattern. C. ​No, because the points lie reasonable close to a straight​ line, but there is a systematic pattern that is not a straight line pattern. D. ​Yes, because the pattern of the points in the normal quantile plot is reasonably close to a straight line.

Answer 1

		254
		204
		186
		161
		160
		156
		154
		154
		154
		149
	mean	173.2
	sd	33.25257

a)

Xbar = 173.2

s = 33.25257

n = 10

df =n-1 = 9

t = =T.INV.2T(0.05,9) = 2.262157

The 95% confidence interval is 149.413<μ<196.987.

option A) is correct

we 95​% confident that the interval from 149.4 million to ​197.0 million actually contains the true mean net worth of all celebrities