Suppose that you are going to collect a set of data, either from an entire population or

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Suppose that you are going to collect a set of data, either from an entire population or from a random sample taken from that population.
a. Which statistical measure would you compute first: the mean or the standard deviation? Explain.
b. What does your answer to (a) tell you about the "practicality" of using the confidence interval estimate formula given in Equation (8.1)?
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Statistics For Managers Using Microsoft Excel

ISBN: 772

7th Edition

Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat

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