Math Problem Statement
In a survey, 14 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $34 and standard deviation of $9. Construct a confidence interval at a 99% confidence level.
Give your answers to one decimal place.
±
Solution
To construct a 99% confidence interval for the average amount spent on a child’s birthday gift, we'll use the formula:
where:
- mean = $34
- standard deviation () = $9
- sample size () = 14
- z-score for a 99% confidence level = 2.576 (for a two-tailed test)
Step 1: Calculate the Standard Error
Step 2: Multiply by the z-score
Step 3: Construct the Confidence Interval
This results in:
Final Answer
The 99% confidence interval is:
Would you like further clarification on any part of this process?
Here are some related questions for further exploration:
- What would the confidence interval be if the confidence level were 95% instead?
- How does increasing the sample size affect the confidence interval?
- What would happen to the confidence interval if the standard deviation were higher?
- Why do we use the z-score rather than the t-score in this scenario?
- What does a 99% confidence interval imply about the survey results?
Tip: When constructing confidence intervals, always check if the sample size is large enough or if the population is normally distributed to decide between using z-scores or t-scores.
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Math Problem Analysis
Mathematical Concepts
Statistics
Confidence Intervals
Standard Deviation
Formulas
Confidence Interval = mean ± (z × (σ/√n))
Standard Error (SE) = σ/√n
Margin of Error (ME) = z × SE
Theorems
Central Limit Theorem
Properties of the Normal Distribution
Suitable Grade Level
Grades 10-12