Math Problem Statement
A certain brokerage house wants to estimate the mean daily return on a certain stock. A random sample of 15 days yields the following return percentages.
-2.57, -0.74, 2.38, -0.76, -2.79, 2.05, -1.11, 1.83, -1.6, 2.31, 0.44, 2.56, 1.81, 0.91, -1.5
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If we assume that the returns are normally distributed, find a 90% confidence interval for the mean daily return on this stock. Give the lower limit and upper limit of the 90% confidence interval.
Carry your intermediate computations to at least three decimal places, Round your answers to one decimal place. (If necessary, consult a list of formulas.)
Lower limit:
Upper limit:
Solution
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Math Problem Analysis
Mathematical Concepts
Statistics
Confidence Intervals
T-distribution
Formulas
Sample Mean
Sample Standard Deviation
Margin of Error
Theorems
Central Limit Theorem
Suitable Grade Level
College Level
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