Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose a statistician draws a random sample of 1,000 people from a population with an unknown average salary. The average salary of the 1,000 people

Suppose a statistician draws a random sample of 1,000 people from a population with an unknown average salary. The average salary of the 1,000 people in the sample is $48,000 and the standard deviation of the salaries of these 1,000 people is $23,000. The statistician estimates the average salary of the entire population to be $48,000. For an approximate 90% confidence interval, the statistician includes a margin of error of about how many dollars? Select the closest answer. $23,000 $12 $1,200 $120 $12,000 $230 $4,800 $23

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

Elementary Differential Geometry

Authors: Andrew N Pressley

2nd Edition

1848828918, 9781848828919

More Books

Students also viewed these Mathematics questions

Question

Why is it important to analyze your spending habits?

Answered: 1 week ago