Question
A group of individuals between 1 and 5 years after getting a college undergraduate degree was surveyed to determine how much money they had put
A group of individuals between 1 and 5 years after getting a college undergraduate degree was surveyed to determine how much money they had put away for retirement. 1750 people were surveyed, and out of those, a surprising 1742 responded. (Note: This is not a "real world" figure -- in the real world, we would rarely -- probably never -- get that kind of response rate!) The mean retirement savings in this group was $2235 with a sample standard deviation of $1896. Note that there were some individuals who did not reply to the survey.
1. What kind of bias does this introduce? Do you believe this would significantly bias the results?
2.Regardless of your answer to part 1, produce 90%, 95%, and 99% confidence intervals for this sample. Remember to provide your answer in the form of a properly phrased confidence interval statement.
3.Suppose the sampl
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