Reasonable to compute that the mean of the population

Reference no: EM1316665

To find 90 percent confidence interval for the population mean.

A study of 25 graduates of four-year colleges by the American Bankers Association revealed the mean amount owed by a student in student loans was $14,381. The standard deviation of the sample was $1,892. Construct a 90 percent confidence interval for the population mean. Is it reasonable to conclude that the mean of the population is actually $15,000? Tell why or why not.

Reference no: EM1316665

Questions Cloud

Brief analysis about monopolistic competitive market : List the four assumptions for the Monopolistic competition model. Now explain how the market will adjust in the long run and draw a corresponding graph for the representative firm in the long run. (Explain your answer.)

Confidence interval for the mean amount a citation : To findout 95 percent with confidence interval for the mean amount a citation. Police Chief Aaron Ard of River City reports 500 traffic citations were issued last month.

Probability using the discrete probability distribution : A psychologist determined that the number of sessions required to obtain the trust of a new patient is 1, 2, and 3. Let x be the random variable indicating the number of sessions required to gain the patient's trust. The following probability fu..

Solution of an inequality with absolute value expression : Solution of an inequality with absolute value expression

Reasonable to compute that the mean of the population : Is it reasonable to compute that the mean of the population is actually $15,000.

Confidence interval for population parameter : The width of a confidence interval will be:

Dtproperties and sysdiagrams : Exclude the tables “dtproperties” and “sysdiagrams”. List the column CountOfTable, in which the Table is the chosen table name.

Confidence interval for the true population mean : To find the 95 percent confidence interval for the true population mean. From the results below, is it true that 95% of the sample means will fall

What is the possibility that x is greater than 30 : Probability using discrete distribution.The probability distribution for the random variable x follows.

User Account

All Pages