A study was conducted to find out the average MPG (miles per gallon) for four-cylinder cars with the manual transmissions. A sample of 20 cars was chosen, the mean MPG was calculated, and 99% confidence interval was obtained. The resulting confidence interval is (24.05, 24.59). While it is tempting to interpret confidence interval as P (24.05
A. The interpretation is correct.
B. The value of Mu is unknown but fixed, so the probability of Mu being between 24.05 and 24.59 is either zero or one.
C. The sample size is 20, so the probability is (1 - 1/20) = 0.95, not 0.99.
D. The 99% confidence interval in conservative, so the probability is slightly higher than 0.99.