Question

A consumer group wants to estimate the mean cost of the base system for a personal computer with certain specifications. It is thought that these computers range in price from $2390 to $4000. a) How large a sample should be taken to estimate μ to within $100 with 90% confidence? A random sample of size 50 yields these data (data in thousands of dollars) 2.43 2.86 2.74 2.75 2.69 2.64 2.91 2.89 3.18 3.00 3.21 3.07 3.72 3.24 3.17 3.57 3.37 3.56 3.30 2.32 3.09 2.99 3.20 3.25 3.70 3.45 2.82 2.88 2.71 3.25 2.86 2.93 3.45 3.11 3.86 2.96 3.00 2.88 3.19 3.56 3.21 3.33 3.39 3.14 2.90 3.49 3.02 3.56 2.87 2.32 b) Find a 90% confidence intervals on σ 2 c) Find a 90% confidence interval on μ

          A consumer group wants to estimate the mean cost of the base
system for a personal computer with
certain specifications. It is thought that these computers range in
price from $2390 to $4000.
a) How large a sample should be taken to estimate μ to within $100
with 90% confidence?
A random sample of size 50 yields these data (data in thousands of
dollars)
2.43 2.86 2.74 2.75 2.69 2.64 2.91
2.89 3.18 3.00 3.21 3.07 3.72 3.24
3.17 3.57 3.37 3.56 3.30 2.32 3.09
2.99 3.20 3.25 3.70 3.45 2.82 2.88
2.71 3.25 2.86 2.93 3.45 3.11 3.86
2.96 3.00 2.88 3.19 3.56 3.21 3.33
3.39 3.14 2.90 3.49 3.02 3.56 2.87
2.32
b) Find a 90% confidence intervals on σ
2
c) Find a 90% confidence interval on μ

Added by Rita F.

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