A random sample of 76 residents in a small town had a mean annual income of ($34,214),

Question:

A random sample of 76 residents in a small town had a mean annual income of \($34,214\), with a sample standard deviation of \($2171\). In a neighboring town, a random sample of 88 residents had a mean annual income of \($31,671\) with a sample standard deviation of \($3279\). Let μ1 be the population mean annual income in the first town, and let μ2 be the population mean annual income in the neighboring town. Compute a point estimate for the difference μ1 − μ2.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Elementary Statistics

ISBN: 9781259969454

3rd Edition

Authors: William Navidi, Barry Monk

Question Posted: