A fire insurance company wishes to study the amount of fire damage in major residential fires. The data they collected from a simple random sample of fires in the past six months are shown below: Damage (in thousands of dollars) 26.2 17.8 23.1 36.0 31.1 43.2 36.4 26.1 The fire chief wishes to estimate the mean amount of damage with a 95% confidence interval. The population is normally distributed. What is the left bound of the 95% confidence interval for the true population mean (rounded to 2 decimal places)?

Respuesta :

Answer:

23.08 < µ < 36.9

Step-by-step explanation:

First we need to find the sample mean and standard deviation.  

Sample mean:  Add up the values and divide by the total amount of values...

(26.2 + 17.8 + 23.1 + 36.0 + 31.1 + 43.2 + 36.4 + 26.1)/8 = 239.9/8 = 29.99

The sample standard deviation is calculated on the first attached photo

s = 8.27

The confidence interval is constructed in the second attached photo

Ver imagen MrSmoot
Ver imagen MrSmoot