Finding Confidence Intervals for Mean, Variance, and Standard Deviation
I really need some help with this problem ASAP. Here is the problem word-for-word:
Find the 90% confidence interval for the mean, variance, and standard deviation for the price in dollars of an adult single-day lift ticket. The data represent a selected sample of nationwide ski resorts. Assume the variable is normally distributed.
$59 $54 $53 $52 $51
$39 $49 $46 $49 $48
Thanks in advance for your help!
Re: Finding Confidence Intervals for Mean, Variance, and Standard Deviation
Hi there, let's do these one at a time so you fully understand. (Happy)
Your data is normal, but you don't know the population standard deviation
Therefore the confidence interval for the mean is
is the number of samples
is the sample mean
is the sample standard deviation
is the test statistic, and
is the level of significance
What do you get?