The trade volume of a stock is the number of shares traded on a given day. The following data, in millions (so that 6.16 represents 6,160,000 shares traded) represent the volume of PepsiCo stock traded for a random sample of trading days in 2010.
Use the below Data Set to answer the questions:
Data Set 1
6.16 6.39 5.05 4.41 4.16 4.00 2.37 7.71
4.98 4.02 4.95 4.97 7.54 6.22 4.84 7.29
5.55 4.35 4.42 5.07 8.8 4.64 4.13 3.94
4.28 6.69 3.25 4.80 4.56 6.96 6.67 5.04
7.25 5.32 4.92 6.92 6.10 6.71 6.23 2.42
a. Construct a 95% confidence interval for the population mean number of shares traded per day in 2010. Interpret the confidence interval.
b. A second random sample of 40 days in 2010 resulted in the data show next. Construct another 95% confidence interval for the population mean number of shares traded per day in 2010. Interpret the confidence interval.
c. Explain why the confidence intervals obtained in parts (a) and (b) are different.Use the below Data Set to answer the questions:
Data Set 2
6.12 5.73 6.85 5.00 4.89 3.79 5.75 6.04
4.49 6.34 5.9 5.44 10.96 4.54 5.46 6.58
8.57 3.65 4.52 7.76 5.27 4.85 4.81 6.74
3.65 4.80 3.39 5.99 7.65 8.13 6.69 4.37
6.89 5.08 8.37 5.68 4.96 5.14 7.84 3.71