Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. A random sample of 87 airline pilots had an average yearly income of $99,400 with a standard deviation of $12,000. If we want

 

1. A random sample of 87 airline pilots had an average yearly income of $99,400 with a standard deviation of $12,000. If we want to determine a 95% confidence interval for the yearly income, what is the value of t? b. Develop a 95% confidence interval for the average yearly income of all pilots. a. average 2. A sample of 144 cans of coffee showed an average weight of 16 ounces. The standard deviation of the population is known to be 1.4 ounces. Construct a 68.26% confidence interval for the mean of the population. 3. A researcher is interested in determining the average number of years employees of a company stay with the company. If past information showvs a standard deviation of 7 months, what size sample should be taken so that at 95% confidence the margin of error will be 2 months or less?

Step by Step Solution

3.47 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

Given that 1 Point estimate sample mean bar x 99400 sample standard deviation s 12000 sample size n ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analyzing Data And Making Decisions Statistics For Business Microsoft Excel 2010 Updated

Authors: Judith Skuce

2nd Edition

9780132844727, 013292496X, 132844729, 978-0132924962

More Books

Students also viewed these Accounting questions

Question

What are Voronoi polygons and when should they be used?

Answered: 1 week ago