The prices of a random sample of 20 new motorcycles have a sample standard devia
ID: 3200631 • Letter: T
Question
The prices of a random sample of 20 new motorcycles have a sample standard deviation of $3900. Assuming the sample is taken from a normally distributed population and you are constructing a 98% confidence interval for estimating the population standard deviation, the left tail critical value is ____? The prices of a random sample of 20 new motorcycles have a sample standard deviation of $3900. Assuming the sample is taken from a normally distributed population and you are constructing a 98% confidence interval for estimating the population standard deviation, the left tail critical value is ____?Explanation / Answer
n = 20, so degrees of freedom = 19
The confidence level is 98%
Left tail critical value = CHIINV(1 - 0.02/2, 20 - 1] = 7.6327