A beverage company claims that on average, customers consume 500 mL of their new energy drink in a single sitting. To test this claim, a market researcher collects a random sample of 8 customers. Assume the sample is normal & make a 90% conf. int. for the true mean volume. Does the data support the company’s claim?
Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically2h 8m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables3h 28m
- 6. Normal Distribution & Continuous Random Variables2h 21m
- 7. Sampling Distributions & Confidence Intervals: Mean3h 37m
- Sampling Distribution of the Sample Mean and Central Limit Theorem19m
- Distribution of Sample Mean - Excel23m
- Introduction to Confidence Intervals22m
- Confidence Intervals for Population Mean1h 26m
- Determining the Minimum Sample Size Required12m
- Finding Probabilities and T Critical Values - Excel28m
- Confidence Intervals for Population Means - Excel25m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 33m
- 9. Hypothesis Testing for One Sample3h 32m
- 10. Hypothesis Testing for Two Samples4h 49m
- Two Proportions1h 12m
- Two Proportions Hypothesis Test - Excel28m
- Two Means - Unknown, Unequal Variance1h 2m
- Two Means - Unknown Variances Hypothesis Test - Excel12m
- Two Means - Unknown, Equal Variance15m
- Two Means - Unknown, Equal Variances Hypothesis Test - Excel9m
- Two Means - Known Variance12m
- Two Means - Sigma Known Hypothesis Test - Excel21m
- Two Means - Matched Pairs (Dependent Samples)42m
- Matched Pairs Hypothesis Test - Excel12m
- 11. Correlation1h 24m
- 12. Regression1h 59m
- 13. Chi-Square Tests & Goodness of Fit2h 31m
- 14. ANOVA2h 1m
7. Sampling Distributions & Confidence Intervals: Mean
Confidence Intervals for Population Mean
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Find the critical value t2αfor an 80% confidence interval given a sample size of 51.
A
0.10
B
1.299
C
0.300
D
2.598
Verified step by step guidance1
Understand that the critical value t_{\frac{\alpha}{2}} is used in constructing confidence intervals for the mean when the population standard deviation is unknown and the sample size is small.
Identify that the confidence level is 80%, which means the significance level \alpha is 0.20 (since \alpha = 1 - confidence level).
Calculate \frac{\alpha}{2} to find the tail probability for the t-distribution. For an 80% confidence interval, \frac{\alpha}{2} = 0.10.
Determine the degrees of freedom for the t-distribution, which is the sample size minus one. For a sample size of 51, the degrees of freedom is 50.
Use a t-distribution table or a statistical software to find the critical value t_{\frac{\alpha}{2}} for \frac{\alpha}{2} = 0.10 and 50 degrees of freedom.
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