Find and Interpret a 95% Confidence Interval for the Population

question 49

Essay

Find and interpret a 95% confidence interval for the population mean number of laptops owned by an average Australian household, if a random sample of 40 Australian households had a sample mean of 1.3 laptops. The population variance is known to be 4 laptops².

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Definitions:

Emotional Aspects

The feelings or emotional reactions that play a key role in influencing consumer decisions and perceptions of brands, products, or services.

Key Benefits

The main advantages or positive effects that a product, service, or strategy offers to its users or stakeholders.

Trial and Adoption

The process consumers go through to first try a new product and then make the decision to continue its use based on satisfaction.

National Drug Control Policy

A framework for federal oversight and coordination of drug-related legislation, enforcement, and education efforts to reduce illegal drug use and its consequences in a country.