Complete question :
A college is funded depending on the mean number of credit units a student takes. A survey involving 16 students yielded the mean number 12 units with a standard deviation 3 units. Assume normal population
If th ere are 10,000 stu dents enrolled in the college an d the institution is funded at the rate of $300 per student unit. At the 95 % confidence level, estimate the interval th at covers the total funding of the college . for full credit, round the answer to TWO decimal places!
Answer: (35823600 , 36176400)
Explanation:
Mean number of units = 12
Standard deviation = 3
Number of samples (n) = 10000
Fund rate = 300
Mean = 10000 * 300 * 12 = 36000000
Standard deviation = 10000^0.5 * 300 * 3 = 90000
Fir 95% C. I
Z0.05 = 1.96
Interval = mean ± 1.96 * SE
(36000000 - 1.96*90000) ; (36000000 + 1.96*90000)
(35823600 , 36176400)