In a sample of 14 CEOs, they spent an average of 12.9 hours each week looking into new product opportunities with a standard deviation of 4.9 hours. Find the 95% confidence interval.a. (10.3, 15.5)b. (8.0, 17.8)c. (10.1, 15.7)d. (9.9, 15.9)

Respuesta :

Answer:

c. (10.1, 15.7)

Step-by-step explanation:

The calculation of the 95% confidence interval is shown below:

Given that

n = sample = 14

average = [tex]\bar x[/tex] = 12.9

Standard deviation = s = 4.9

Based on the above information

[tex]\alpha = 1 -0.95 = 0.05[/tex]

n - 1 = 14 - 1 = 13

[tex]t_{\alpha}\ value = 2.16[/tex]

Now the 95% confidence interval is

[tex]= \bar x + \pm\ t \times \frac{s}{\sqrt{n} } \\\\= 12.9 \pm 2.16 \times \frac{4.9}{\sqrt{14} } \\\\= 12.9 \pm 2.8287[/tex]

= (10.1, 15.7)

hence, the correct option is c.