You are given the sample mean and the population standard deviation. Use this in

Question

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient, use technology to construct the confidence intervals.

A random sample of 50 home theater systems has a mean price of $110.00.

Assume the population standard deviation is $19.40.

Construct a 90% confidence interval for the population mean.

A) The 90% confidence interval is

(Round to two decimal places as needed.)

Construct a 95% confidence interval for the population mean.

B) The 95% confidence interval is

(Round to two decimal places as needed.)

C) Interpret the results. Choose the correct answer below.

A.

With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is narrower than the 90%.

B.

With 90% confidence, it can be said that the sample mean price lies in the first interval. With 95% confidence, it can be said that the sample mean price lies in the second interval. The 95% confidence interval is wider than the 90%.

C.

With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is wider than the 90%.

Explanation / Answer

A. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is narrower than the 90%.

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