Final answer:
To construct a 95% confidence interval for the true mean drying time of a new interior wall paint, use the formula: CI = ¯x ± z * (s / sqrt(n)). For an exact 95% confidence interval assuming a normal distribution, use the same formula. To construct a 95% prediction interval for a new observation, use the formula: PI = ¯x ± z * s.
Step-by-step explanation:
(a) To construct a 95% confidence interval for the true mean, we use the formula:
CI = ¯x ± z * (s / sqrt(n))
where ¯x is the sample mean, s is the sample standard deviation, n is the sample size, and z is the z-score for the desired confidence level.
Plugging in the values, we get:
CI = 63.3 ± z * (8.4 / sqrt(50))
Using a z-score table or calculator, we find that the z-score for a 95% confidence level is approximately 1.96.
So, the 95% confidence interval for the true mean drying time is:
(63.3 - 1.96 * (8.4 / sqrt(50)), 63.3 + 1.96 * (8.4 / sqrt(50)))
(b) Assuming the population has a normal distribution, we can use the same formula as in part (a) to construct an exact 95% confidence interval.
(c) To construct a 95% prediction interval for a new observation, we use the formula:
PI = ¯x ± z * s
Where ¯x and s are the same as in the previous parts, and z is the z-score for the desired confidence level.
Again, using a z-score table or calculator, we find that the z-score for a 95% confidence level is approximately 1.96.
So, the 95% prediction interval for a new observation is:
(63.3 - 1.96 * 8.4, 63.3 + 1.96 * 8.4)