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Question: A random sample of 24 observations is used to estimate the population mean. The sample mean and the sample standard deviation are calculated as 104.6 and 28.8, respectively. Assume that the population is normally distributed.

a. Construct a 90% confidence interval of the population mean.

b. Construct a 99% confidence interval of the population mean.

c. Use your answers to discuss the impact of the confidence level on the width of the interval.

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Category:- Management Theories
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