Answer:
a
The null hypothesis is [tex]H_o : \mu = 35 .1 \ million \ shares[/tex]
The alternative hypothesis [tex]H_a : \mu \ne 35.1\ million \ shares[/tex]
b
The 95% confidence interval is [tex]27.475 < \mu < 37.925[/tex]
Step-by-step explanation:
From the question the we are told that
The population mean is [tex]\mu = 35.1 \ million \ shares[/tex]
The sample size is n = 30
The sample mean is [tex]\= x = 32.7 \ million\ shares[/tex]
The standard deviation is [tex]\sigma = 14.6 \ million\ shares[/tex]
Given that the confidence level is [tex]95\%[/tex] then the level of significance is mathematically represented as
[tex]\alpha = 100-95[/tex]
[tex]\alpha = 5\%[/tex]
=> [tex]\alpha = 0.05[/tex]
Next we obtain the critical value of [tex]\frac{\alpha }{2}[/tex] from the normal distribution table
The value is [tex]Z_{\frac{\alpha }{2} } = 1.96[/tex]
Generally the margin of error is mathematically represented as
[tex]E = Z_{\frac{\alpha }{2} } * \frac{ \sigma }{\sqrt{n} }[/tex]
substituting values
[tex]E = 1.96 * \frac{ 14.6 }{\sqrt{30} }[/tex]
[tex]E = 5.225[/tex]
The 95% confidence interval confidence interval is mathematically represented as
[tex]\= x -E < \mu < \= x +E[/tex]
substituting values
[tex]32.7 - 5.225 < \mu < 32.7 + 5.225[/tex]
[tex]27.475 < \mu < 37.925[/tex]
