00:01
Let me take note of the given values here.
00:02
First of all, the sample size that was given as 51 in this case and the sample mean 1192 and the sample standard division given as 279 and the confidence level which was given as 98 percent.
00:16
So we can write as 0 .98.
00:18
So we have to construct the confidence interval for the population or the true population average business trip cost.
00:27
So that means the population mean.
00:29
Remember the formula, the confidence interval for the population mean which is the sample mean plus or minus because we know the sample standard division.
00:36
We have to use the t distribution here and sample standard division divided by root n.
00:42
Let me get the t value first.
00:44
So the alpha is 1 minus confidence level.
00:47
I need alpha over 2 which means this is 1 minus 0 .98 divided by 2.
00:51
That would be 0 .01 and i need the degrees of freedom for the t distribution.
00:56
This is n minus 1.
00:57
51 minus 1 which would be 50 here to get the t value here...