A sweatshirt is sold for $42 and the sales tax is 8%. How much is the sales tax?
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Given:
n = 50, sample size
, sample mean
s = 2.4 min, sample standard deviation.
The confidence interval is
At the 99% confidence level, t* (from the student's t-distribution) is
t* = 2.68
Therefore
t*(s/√n) = 2.68*(2.4/√50) = 0.9096
The confidence interval is
(23.6-0.9096, 23.6+0.9096) ≈ (22.69, 24.51)
Answer: (22.7, 24.5)
n = 50, sample size
s = 2.4 min, sample standard deviation.
The confidence interval is
At the 99% confidence level, t* (from the student's t-distribution) is
t* = 2.68
Therefore
t*(s/√n) = 2.68*(2.4/√50) = 0.9096
The confidence interval is
(23.6-0.9096, 23.6+0.9096) ≈ (22.69, 24.51)
Answer: (22.7, 24.5)