Question

in a random sample of seven cell phones, the mean full retail price was $463.00 and the standard deviation was $222.00. assume the population is normally distributed and use the t - distribution to find the margin of error and construct a 90% confidence interval for the population mean μ. interpret the results. (300.0, 626.0) (round to one decimal place as needed.) interpret the results. select the correct choice below and fill in the answer box to complete your choice. (type an integer or a decimal. do not round.) a. it can be said that % of the population of cell phones have full retail prices (in dollars) that are between the intervals endpoints. b. with % confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the intervals endpoints. c. with % confidence, it can be said that most cell phones in the population have full retail prices (in dollars) that are between the intervals endpoints. d. % of all random samples of seven people from the population of cell phones

Explanation:

A confidence interval gives an estimated range of values which is likely to include an unknown population parameter. A 90% confidence interval for the population mean \(\mu\) means that if we were to take many samples and calculate a confidence interval for each sample, about 90% of those intervals would contain the true population mean. Option B correctly interprets the confidence interval as a statement about the population mean, not about individual data points (Options A and C) or about sample means (Option D).

Answer:

B. With \(90\%\) confidence, it can be said that the population mean full retail price of cell phones (in dollars) is between the interval's endpoints.