question archive Your investment advisor proposes a monthly income investment scheme which promises a variable income each month
Your investment advisor proposes a monthly income investment scheme which promises a variable income each month
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Your investment advisor proposes a monthly income investment scheme which promises a variable income each month. You will invest in it only if you are assured an average monthly income of at least 660 dollars. Your advisor also tells you that, for the past 46 months, the scheme had incomes with an average value of 688 dollars and a standard deviation of 107 dollars.
(a) Create a 90% confidence interval for the average monthly income of this scheme. (Round your answers to 4 decimal places, if needed.)
(, )
(b) Based on this confidence interval, should you invest in this scheme?
No, since the interval is completely above 660.
No, since the interval contains 660.
Yes, since the interval contains 660.
Yes, since the interval is completely above 660.
