8. [-/7 Points] DETAILS STATSBYLO1 15.1B.009.CH. Many people struggle with gambling addictions. Gambling addicts can jeo

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8 7 Points Details Statsbylo1 15 1b 009 Ch Many People Struggle With Gambling Addictions Gambling Addicts Can Jeo 1 (151.41 KiB) Viewed 44 times

8. [-/7 Points] DETAILS STATSBYLO1 15.1B.009.CH. Many people struggle with gambling addictions. Gambling addicts can jeopardize their relationships with friends and family as they spiral into deeper and deeper debt. In order to quantify the degree of addiction a gambler suffers, a study surveyed a random sample of 100 gambling addicts. The amount of debt to be repaid is examined, and it is found that they have an average of 17 thousand dollars in gambling debts to repay. Suppose that all conditions are met and that the population standard deviation is o = 1.4 thousand dollars. In this problem, we will systematically investigate what happens to the length of the confidence interval as the sample size quadruples. (a) Calculate a 95% confidence interval for the mean amount of debt owed (in thousands of dollars) for all gambling addicts using the given sample size, n = 100. (Use a table or technology. Round your answers to three decimal places.) The 95% confidence interval based upon n = 100 is The 95% confidence interval based upon n = 400 is (b) Calculate a 95% confidence interval for the mean amount of debt owed (in thousands of dollars) for all gambling addicts using the given sample size, n = 400. (Use a table or technology. Round your answers to three decimal places.) The 95% confidence interval based upon n = 1,600 is ( MY NOTES ASK YOUR TEACHER o It quadruples. o It doubles. o It is cut in half. thousand dollars. (c) Calculate a 95% confidence interval for the mean amount of debt owed (in thousands of dollars) for all gambling addicts using the given sample size, n = 1,600. (Use a table or technology. Round your answers to three decimal places.) Need Help? Watch It thousand dollars. (d) What happens to the margin of error of the point estimate as the sample size quadruples? It stays the same. PRACTICE ANOTHER thousand dollars.