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ryzh
1 month ago
8

The idle time for taxi drivers in a day are normally distributed with an unknown population mean and standard deviation. If a ra

ndom sample of 23 taxi drivers is taken and results in a sample mean of 172 minutes and sample standard deviation of 16 minutes, find a 98% confidence interval estimate for the population mean using the Student's t-distribution.
Mathematics
1 answer:
Svet_ta [12.7K]1 month ago
3 0

Answer:

172-2.51\frac{16}{\sqrt{23}}=163.626    

172+2.51\frac{16}{\sqrt{23}}=180.374

Hence, in this case, the 98% confidence interval would be (163.626;180.374)    

Step-by-step breakdown:

Previous concepts

A confidence interval represents a range that is likely to encompass a population value within a specific confidence level, typically expressed as a percentage whereby a population mean falls between an upper and lower limit.

The margin of errorindicates the span of values surrounding the sample statistic in a confidence interval.

A normal distributionillustrates a probability distribution that is symmetrical around the mean, signifying that values near the mean occur more frequently than those farther away from it.

\bar X=172 denote the sample mean

\mu population mean (the variable of interest)

s=16 signifies the sample standard deviation

n=23 represents the sample size  

The solution to the query

The equation for the confidence interval of the mean is given by the following formula:

\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}   (1)

To determine the critical value t_{\alpha/2}, we first need to calculate the degrees of freedom, which is expressed as:

df=n-1=23-1=22

Since the confidence level is 0.98 or 98%, we find the value of \alpha=0.02 and \alpha/2 =0.01 using tools like Excel or a calculator, where the Excel command would be: "=-T.INV(0.01,22)". This yields t_{\alpha/2}=2.51

Having all components ready, we can substitute into formula (1):

172-2.51\frac{16}{\sqrt{23}}=163.626    

172+2.51\frac{16}{\sqrt{23}}=180.374

Thus, for this case, the 98% confidence interval will be (163.626;180.374)    

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