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1) For 31 randomly selected Rolling Stones concerts, the mean gross earnings is 2.61 million dollars....

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Basic Math

1) For 31 randomly selected Rolling Stones concerts, the meangross earnings is 2.61 million dollars. Assuming a populationstandard deviation gross earnings of 0.5 million dollars, obtain a99% confidence interval (assume C-Level=0.99) for the mean grossearnings of all Rolling Stones concerts (in millions). Confidenceinterval: ___,___

2) correct interpretation for part 1 answers?

a. 99% chance that the mean gross earnings of all rolling stonesconcerts lies in the interval

b. 99% confident that the mean gross earning for this sample of31 rolling stones concerts lies in the interval

c. 99% confident that the mean gross earning of all rollingstones concerts lies in the interval

d. none of the above

Answer & Explanation Solved by verified expert
4.4 Ratings (869 Votes)
We have given that Sample mean 261 million dollars Population standard    See Answer
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