00:01
Hey there, welcome to numerate.
00:03
We're asked to find the critical value based on the distribution shown by the stats and by the histogram.
00:09
So with this, let's start by writing what we're given.
00:12
We're given the confidence level equals to 0 .99.
00:19
We can use this confidence level here to find our significance level.
00:24
Our significance level here would be 1 minus our confidence level.
00:31
So therefore, this will equal 0 .0 .0.
00:34
But since we are constructing an interval over here, we're going to divide this significance level by 2.
00:43
So 0 .01 divided by 2 equals 0 .005.
00:49
And also with this, we are not given the population standard deviation, which is a key note over here.
00:58
And we are given a sample size through the histogram of 81 player salaries.
01:04
So going back to the population standard deviation, we're not given it.
01:12
So this implies we will be using a t distribution.
01:19
So for the t distribution, let's see, so t critical value, or let's use the significance level that's given that we found, 0 .005.
01:41
So it will be either two answers.
01:43
Since we're not given a significance level, it won't be a z.
01:46
Distribution.
01:47
It will be either a t distribution or the answer would be neither.
01:52
This is dependent on what the histogram shows you.
01:55
So in front of me, i don't see any histogram attached to this problem...