Chicago Families: A survey is taken to estimate the mean annual family income for families living...

Chicago Families: A survey is taken to estimate the mean annual family income for families living in public housing in Chicago. From a random sample of 30 families, the annual incomes (in hundreds of dollars) are as follows 83 90 77 100 83 64 78 92 73 122 96 60 85 86 108 70 139 56 94 84 111 93 120 70 92 100 124 59 112 79 a) Construct and interpret a 95% confidence interval for b) Construct a 99% confidence interval for u , and compare it with the one from part a.

Expert Solution

Solution-

a)

b)

from both Intervals computed above 99% CI is bigger than 95% CI . That is 99% CI is wider than 95% CI.

So, Larger Significance level makes interval wider.

orchestra answered 1 year ago

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