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. I take a sample of 322 Wooster students and find that their mean checking account balance is $232 with a standard deviation of $36. Create a confidence interval (at the 94 percent confidence level) to estimate the true average checking account balance in the population of Wooster students. Interpret the interval in one sentence (10 points)

Respuesta :

Answer: The required confidence interval is (220.873,243.127).

Step-by-step explanation:

Since we have given that

Sample = n = 322

Mean = $232

Standard deviation= $36

At 94% confidence interval,

z = 1.88

So, the confidence interval for average would be

[tex]\bar{x}\pm z\dfrac{\sigma}{\sqrt{n}}\\\\=232\pm 1.88\times \dfrac{36}{\sqrt{37}}\\\\=232\pm 11.127\\\\=(232-11.127,232+11.127)\\\\=(220.873,243.127)[/tex]

Hence, the required confidence interval is (220.873,243.127).