MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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For 30 randomly selected Rolling Stones concerts, the mean gross earnings is $2.27 million. Assuming a population standard deviation gross earnings of $0.5 million, obtain a 99% confidence interval for the mean gross earnings of all Rolling Stones concerts. Interpret your answer in words.
(A) Calculate α and z_(α/2)
(B) Calculate z_(α/2)∙σ/√n
(C) Calculate the 99% confidence interval
(D) Interpret your results
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