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The American Management Association wishes to have information on the mean income of middle managers in the retail industry. A random sample of 240 managers
The American Management Association wishes to have information on the mean income of middle managers in the retail industry. A random sample of 240 managers reveals a sample mean of $45,500. The standard deviation of this population is $2,000. Assuming that you are the association consultant, advice on the following questions: i. What is the population mean? ii. What is a reasonable range of values for the population mean? (use the 95 percent level of confidence).
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