Answered step by step
Verified Expert Solution
Question
1 Approved Answer
you take a random sample of 500 police officers in the city of Lowell and find that their average annual salary is 53,000 with a
you take a random sample of 500 police officers in the city of Lowell and find that their average annual salary is 53,000 with a standard deviation.
A) construct 95% confidence interval?
B) Construct 99% confidence interval around your point estimate ?
C ) compare the results for a and b above: explain what happened to the size of your confidence interval ? why did it change ? how does it relate to precision?
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