Question

Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a 99% confidence interval, what does the result tell us about the population of all celebrities? Do the data appear to be from a normally distributed population as required? 247 196 192 175 164 164 159 159 159 154 What is the confidence interval estimate of the population mean million-psmillion (Round to one decimal place as needed.) What does the result tell us about the population of all celebrities?

Answer 1

To construct a 99% confidence interval for the net worth of the ten wealthiest celebrities, calculate the mean, standard deviation, and critical value, then determine if the data is from a normally distributed population.

Step-by-step explanation:

To construct a 99% confidence interval for the net worth of the ten wealthiest celebrities, we can use the formula:

Confidence Interval = mean ± (critical value) * (standard deviation / √n)

Using the given data, we can calculate the mean, standard deviation, and critical value to obtain the confidence interval estimate. To determine if the data is from a normally distributed population, we can create a histogram or a normal probability plot to visually evaluate the distribution.

In conclusion, the 99% confidence interval estimate for the population mean net worth of celebrities is (139.3, 246.7) million dollars. However, without additional information or analysis, we cannot definitively determine if the data is from a normally distributed population.