Asked by Fran
You are a buyer bidding on a lot of 10,000 uncut diamonds. You select 100 stones at random, sight unseen, from the lot. The average weight is 0.98 ct with a standard deviation in the sample of 0.11 ct. What is the 95% confidence interval for the average weight of a stone in the lot?
Answers
Answered by
MathGuru
Formula:
CI95 = mean + or - 1.96(sd/√n)
Substituting the data given in the problem:
CI95 = 0.98 + or - 1.96(0.11/√100)
I'll let you take it from here.
CI95 = mean + or - 1.96(sd/√n)
Substituting the data given in the problem:
CI95 = 0.98 + or - 1.96(0.11/√100)
I'll let you take it from here.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.