Find 95 percent confidence interval for population mean

Reference no: EM1320007

Find 95 percent confidence interval for population mean:

A college student is doing some research on the cost of one-bedroom apartments in town. He has randomly selected 25 apartments for which the price was published. The average price for these apartments is = $652. He will assume that price follows roughly a normal distribution. Based on prices from previous years, a real estate agent gives him the information that σ is approximately $55. A 95% confidence interval for µ is found to be 652 ± 21.56 = ($630.44, $673.56). Determine which of the following statements is true.

A) A test of the hypotheses H₀: µ₀ = 650 vs. H_a: µ₁ < 650 would be rejected at the 0.05 level.

B) A test of the hypotheses H₀: µ₀ = 650 vs. H_a: µ₁ > 650 would be rejected at the 0.05 level.

C) A test of the hypotheses H₀: µ₀ = 675 vs. H_a: µ₁ ≠ 675 would be rejected at the 0.05 level.

D) All the above.

Reference no: EM1320007

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