Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income

An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income is found to be $21.3 for a random sample of 2817 people. Assume the population standard deviation is known to be $7.9. Construct the 98 % confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place. Answer How to enter your answer (opens in new window) Lower endpoint: 20.31 Upper endpoint: 21.08 Tables Keypad Keyboard Shortcuts
image text in transcribed
An economist wants to estimate the mean per copita income (in thousands of dollars) for a major city in California, Suppose that the mean income is found to be $21.3 for a random sample of 2817 people. Assume the population standard deviation is known to be $7.9 Construct the 98% confidence interval for the mcan per capita income in thousands of dollars. Round your answers to one decimal place. Answer How to enter your answer (opens in new window) Lower endpoint: Upper endpoint

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

How To Beat The IRS At Its Own Game Strategies To Avoid And Fight An Audit

Authors: Amir D Aczel

1st Edition

1568580487, 978-1568580487

More Books

Students also viewed these Accounting questions