Essay
The makers of a soft drink want to identify the average age of its consumers. A sample of 55 consumers was taken. The average age in the sample was 21 years with a standard deviation of 4 years.
a.Construct a 95% confidence interval for the true average age of the consumers.
b.Construct an 80% confidence interval for the true average age of the consumers.
c.Discuss why the 95% and 80% confidence intervals are different.
Correct Answer:
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a.19.92 to 22.08
b.20.30 to 21...View Answer
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Correct Answer:
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b.20.30 to 21...
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