The makers of a soft drink want to identify the average age of its consumers. A sample of 55 consumers was taken. The average age in the sample

MATLAB: An Introduction with Applications
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The makers of a soft drink want to identify the average age of its consumers. A sample of 55 consumers was taken. The average age in the sample was 21 years with a standard deviation of 4 years.

a. Calculate a point estimate for the average age of the company’s consumers. 

 

b. Calculate the margin of error for a 95% confidence interval for the average age of the company’s consumers. (Use the fact that the 97.5th percentile of a t distribution with 54 degrees of freedom is 2.005.) 

 

 

 

c. Interpret your 95% confidence interval. Be specific. 

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