Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The union of airline pilots wants to estimate the average yearly income of pilots. The union knows that the standard deviation of the salaries is
The union of airline pilots wants to estimate the average yearly income of pilots. The union knows that the standard deviation of the salaries is $13,000. In a sample of 78 pilots, the average yearly income is $101,500. Construct a 98% confidence interval for the average yearly income of pilots.
- In blank #1 enter the upper limit of the confidence interval.
- In blank #2 enter the lower limit of the confidence interval.
- Is it reasonable to assume that the average yearly income for airline pilots is $103,000? Enter "yes" or "no" in blank #3.
(Round your answers to 2 decimal places and enter your answers as $12,345.67 including the $ sign.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started