A random sample of 35 used car lots found that the average price of a used...
A random sample of 35 used car lots found that the average price of a used car is $11,750. Assume the population standard deviation is $1,225. Using a 90% confidence level, calculate the following:
Critical Value
Group of answer choices A.1.645 B. 1.96 C . 2.05 D. 1.28
* please show me how you worked it out. Thanks!
Homework Answers
solution
At 90% confidence level
= 1 - 90%
= 1 - 0.90 =0.10
/2
= 0.05
Z/2
= Z0.05 = 1.645 ( Using z table )
critical value=1.645
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