Alex, Kara, and Susie are the only three people in a community. Alex is willing to pay $20 for the fifth unit of a public good,
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Answer:
represent the lower limit
represent the Upper limit
So then the limits for this case are (405, 435)
Explanation:
Let's define X as our random variable that represent the "number of calories for a chicken breast", and we have the following data:
The select a sample of 25 chickens , n = 25. And we want to find the limits for a confidence interval within 3 deviations from the mean with z =3.
We assume that the distribution for X is normal. So then the distribution for the sample mean is also normal.
And for this case the confidence interval would be given by:
So the limits are defined as:
represent the lower limit
represent the Upper limit
Since we have all the values given we cn replace like this:
represent the lower limit
represent the Upper limit
So then the limits for this case are (405, 435)