From a random sample of 58 businesses, it is found that the mean time the owner spends on administrative issues each week is 21.69 with a population standard deviation of 3.23. What is the 95% confidence interval for the amount of time spent on administrative issues?

Respuesta :

Answer: (20.86, 22.52)

Step-by-step explanation:

Formula to find the confidence interval for population mean :-

[tex]\overline{x}\pm z^*\dfrac{\sigma}{\sqrt{n}}[/tex]

, where [tex]\overline{x}[/tex] = sample mean.

z*= critical z-value

n= sample size.

[tex]\sigma[/tex] = Population standard deviation.

By considering the given question , we have

[tex]\overline{x}= 21.69[/tex]

[tex]\sigma=3.23[/tex]

n= 58

Using z-table, the critical z-value for 95% confidence = z* = 1.96

Then, 95% confidence interval for the amount of time spent on administrative issues will be :

[tex]21.69\pm (1.96)\dfrac{3.23}{\sqrt{58}}[/tex]

[tex]=21.69\pm (1.96)\dfrac{1.7}{7.61577}[/tex]

[tex]=21.69\pm (1.96)(0.223221)[/tex]

[tex]\approx21.69\pm0.83[/tex]

[tex]=(21.69-0.83,\ 21.69+0.83)=(20.86,\ 22.52)[/tex]

Hence, the 95% confidence interval for the amount of time spent on administrative issues = (20.86, 22.52)