Question
3.In Ethiopia, a random sample of eighty people working in the Health and Medical field were surveyed to determine their annual salary.From the survey, it
3.In Ethiopia, a random sample of eighty people working in the Health and Medical field were surveyed to determine their annual salary.From the survey, it was discovered that the average annual salary for the Ethiopians working in the Health and Medical field was the equivalent of US$4479[7] with a standard deviation of US$86.(For your own information-nothing to do with this problem, Ethiopians make an average of US$3014 per year.)
a) Find the margin of error for the population mean annual salary for Ethiopians working in the Health and Medical field using a 95% confidence level.
b) Construct a 95% confidence interval for the population mean annual salary for Ethiopians working in the Health and Medical field.
c) Suppose the population standard deviation is US$100 per year.Construct a 99% confidence interval for the population mean annual salary for Ethiopians working in the Health and Medical field.
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
