(Answered) A sample of 30 boxes of fruit loops was chosen and each box

Economics

A sample of 30 boxes of Fruit Loops was chosen and each box was weighed. The mean weight of the sample was 22 ounces with a sample deviation of 0.4 ounces.

a. Construct a 90% confidence interval for the mean weight of the cereal boxes.

b. Construct a 98% confidence interval for the mean weight of the cereal boxes.

c. Explain the difference between the answers for (a) and (b).

d. Imagine that your sample was 50. Construct a 90% confidence interval.

e. Explain the difference between the answers for (a) and (d).

f. What do the 90% and 98% confidence levels mean?

Be specific. Hint: It does not mean that we are 90% or 98% sure that the interval contains the actual population mean. That is close, but is not precise enough.

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