Math Problem Statement
College tuition: A simple random sample of colleges and universities in the United States had a mean tuition of . We know that the population standard deviation is .
Part 1 of 2 (a) To construct a confidence interval for the mean, what method is appropriate here?
method, because we have the population standard deviation.
method, because we have the sample standard deviation.
Neither method is appropriate, since the sample size is too small and we do not know if the population is approximately normal. Part: 1 / 21 of 2 Parts Complete Part 2 of 2 (b) Construct a confidence interval for the mean using a table or technology. Round your answer to the nearest dollar.
The confidence interval is .
Solution
For Part (a), the correct method to use is the Z-method (or Z-interval method) because we know the population standard deviation.
To construct a confidence interval, the Z-method is appropriate in cases where:
- We know the population standard deviation, .
- The sample size is large (typically ), or if the sample size is small, the population is approximately normal.
For Part (b), to construct a 95% confidence interval for the mean tuition, we use the formula: where:
- is the sample mean,
- is the Z-score for a 95% confidence level (approximately 1.96),
- is the population standard deviation,
- is the sample size.
If you provide the values for , , and , I can help you calculate the confidence interval precisely.
Would you like detailed steps or clarification on any part of this?
Here are five related questions to deepen your understanding:
- How does the confidence level affect the width of the confidence interval?
- Why is the Z-method preferred over the t-method when the population standard deviation is known?
- What happens to the confidence interval if the sample size increases?
- How would we proceed if only the sample standard deviation was known?
- Why is the sample mean an unbiased estimator of the population mean?
Tip: Knowing the population standard deviation makes calculations simpler and allows us to use the Z-method directly, even for moderately-sized samples.
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Math Problem Analysis
Mathematical Concepts
Statistics
Confidence Intervals
Population Standard Deviation
Z-Method
Formulas
Confidence Interval for Mean: \( \bar{X} \pm Z \times \frac{\sigma}{\sqrt{n}} \)
Theorems
Central Limit Theorem
Suitable Grade Level
College Level
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