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Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 21 mortgage institutions, the mean interest rate was 3.56% and the standard deviation was 0.47%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? IDE OA. Use a t-distribution because the interest rates are normally distributed and is known. OB. Use a normal distribution because n<30 and the interest rates are normally distributed. OC. Use a normal distribution because the interest rates are normally distributed and is known. ✔D. Use a t-distribution because it is a random sample, is unknown, and the interest rates are normally distributed. O E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. OA. The 90% confidence interval is (. ). (Round to two decimal places as needed.) OB. Neither distribution can be used t construct the confidence interval.

Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 21 mortgage institutions, the mean interest rate was 3.56% and the standard deviation was 0.47%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? IDE OA. Use a t-distribution because the interest rates are normally distributed and is known. OB. Use a normal distribution because n<30 and the interest rates are normally distributed. OC. Use a normal distribution because the interest rates are normally distributed and is known. ✔D. Use a t-distribution because it is a random sample, is unknown, and the interest rates are normally distributed. O E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. OA. The 90% confidence interval is (. ). (Round to two decimal places as needed.) OB. Neither distribution can be used t construct the confidence interval.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 21 mortgage institutions, the mean interest rate was 3.56% and the standard deviation was 0.47%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a t-distribution because the interest rates are normally distributed and is known. OB. Use a normal distribution because n<30 and the interest rates are normally distributed. OC. Use a normal distribution because the interest rates are normally distributed and is known. D. Use a t-distribution because it is a random sample, is unknown, and the interest rates are normally distributed. O.E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. OA. The 90% confidence interval is (). (Round to two decimal places as needed.) OB. Neither distribution can be used to construct the confidence interval.
Transcribed Image Text:Use the standard normal distribution or the t-distribution to construct a 90% confidence interval for the population mean. Justify your decision. If neither distribution can be used, explain why. Interpret the results. In a random sample of 21 mortgage institutions, the mean interest rate was 3.56% and the standard deviation was 0.47%. Assume the interest rates are normally distributed. Which distribution should be used to construct the confidence interval? OA. Use a t-distribution because the interest rates are normally distributed and is known. OB. Use a normal distribution because n<30 and the interest rates are normally distributed. OC. Use a normal distribution because the interest rates are normally distributed and is known. D. Use a t-distribution because it is a random sample, is unknown, and the interest rates are normally distributed. O.E. Cannot use the standard normal distribution or the t-distribution because o is unknown, n<30, and the interest rates are not normally distributed. Select the correct choice below and, if necessary, fill in any answer boxes to complete your choice. OA. The 90% confidence interval is (). (Round to two decimal places as needed.) OB. Neither distribution can be used to construct the confidence interval.
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