Provide an Appropriate Response $98 \%$ Confidence Interval for the Population Mean

question 106

Multiple Choice

Provide an appropriate response.
-Construct a $98 \%$ confidence interval for the population mean, $\mu$ . Assume the population has a normal distribution. A study of 14 car owners showed that their average repair bill was $\$ 192$ with a standard deviation of $\$ 8 .$

• A) \(( \$ 186.30 , \$ 197.70 )\)
• B) \(( \$ 222.30 , \$ 256.10 )\)
• C) \(( \$ 328.30 , \$ 386.90 )\)
• D) \(( \$ 115.40 , \$ 158.80 )\)

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Definitions:

Recent Data

Information or statistics that have been collected in the near past and are up-to-date.

Long-Term Trend

A persistent movement in data over a long period, indicating a general direction.

Annual Time Series

Data collected or recorded at yearly intervals, often used for analyzing trends over time.

Data Pattern

The recognizable way that data may be organized or follow a specific arrangement, suggesting trends or relationships.