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Confidence Interval for Mean: mpg 2009 sedans

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Using the below data for 2009 mpg of sedans priced under $20,000:

27, 31, 30, 28, 27, 24, 29, 32, 32, 27, 26, 26, 25, 26, 25, 24

a. Construct a 95% confidence interval estimate for the population mean mpg of 2009 sedans priced under $20000 assuming a normal distribution.

b. Interpret the interval constructed in a.

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Solution Summary

The solution provides step by step method for the calculation of confidence interval for population mean. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.

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Confidence Interval
Using the below data for 2009 mpg of sedans priced under $20,000:
27, 31, 30, 28, 27, 24, 29, 32, 32, 27, 26, 26, 25, 26, 25, 24
Answers
a. Construct a 95% confidence interval estimate ...

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