Use the standard normal distribution or the t distribution

Last updated: 3/26/2024

Use the standard normal distribution or the t distribution to construct a 95 co interval for the population mean Justify your decision If neither distribution can be used explain why Interpret the results In a random sample of 12 mortgage institutions the mean interest rate was 3 62 and the standard deviation was 0 48 Assume the interest rates are normally distributed Which distribution should be used to construct the confidence interval OA Use a normal distribution because the interest rates are normally distributed and is known OB Use a t distribution because the interest rates are normally distributed and is known OC Use a normal distribution because n 30 and the interest rates are normally distributed D Use a t distribution because it is a random sample is unknown and the interest rates are normally distributed O E Cannot use the standard normal distribution or the t distribution because is unknown n 30 and the interest rates are not normally distributed Select the correct choice below and if necessary fill in any answer boxes to complete your choice A The 95 confidence interval is 5 28 7 12 Round to two decimal places as needed B Neither distribution can be used to construct the confidence interval