Question

According to the website www.costofwedding, the average cost of flowers for a wedding is $698. Recently, in a random sample of 40 weddings in the U. S. it was found that the average cost of the flowers was $734, with a standard deviation of $102. On the basis of this, a 95% confidence interval for the mean cost of flowers for a wedding is $701 to $767.

Choose the statement that is the best interpretation of the confidence interval.
I. That probability that the flowers at a wedding will cost more than $698is greater than 5%.
II. In about 95%of all samples of size 40,the resulting confidence interval will contain the mean cost of flowers at weddings.
III. We are extremely confident that the mean cost of flowers at a wedding is between $701and $767
A) II only
B) I only
C) III only
D) II and III are both correct

Answer 1

D) II and III are both correct.

Explanation:

The Probability distribution is the function which describes the likelihood of possible values assuming a random variable. The cost of flowers for a wedding is $698. The 95% of all samples of size is 40 and the confidence interval will be mean cost of flowers at wedding. There is confidence that mean cost of wedding flowers is between $701 to $767.