Question

In: Statistics and Probability

Starting salaries of 64 college graduates who have taken a statistics course have a mean of...

Starting salaries of 64 college graduates who have taken a statistics course have a mean of $44,500 with a standard deviation of $6,800. Find a 99.7% confidence interval for ?. (NOTE: Do not use commas or dollar signs in your answers. Round each bound to three decimal places.)

Lower-bound: Upper-bound:

Solutions

Expert Solution

Solution :

Given that,

t /2,df = 3.087

Margin of error = E = t/2,df * (s /n)

= 3.087 * (6800 / 64)

Margin of error = E = 2623.950

The 99.7% confidence interval estimate of the population mean is,

- E < < + E

44500 - 2623.950 < < 44500 + 2623.950

41876.050 < < 47123.950

Lower-bound: 41876.050

Upper-bound: 47123.950


Related Solutions

Starting salaries of 64 college graduates who have taken a statistics course have a mean of...
Starting salaries of 64 college graduates who have taken a statistics course have a mean of $43,500 with a standard deviation of $6,800. Find an 80% confidence interval for ? μ . (NOTE: Do not use commas or dollar signs in your answers. Round each bound to three decimal places.) Find upper and lower bounds.
Starting salaries of 64 college graduates who have taken a statistics course have a mean of...
Starting salaries of 64 college graduates who have taken a statistics course have a mean of $44,500 with a standard deviation of $6,800. Find a 99.7% confidence interval for ?. (NOTE: Do not use commas or dollar signs in your answers. Round each bound to three decimal places.) Lower-bound: Upper-bound:
Starting salaries of 64 college graduates who have taken a statistics course have a mean of...
Starting salaries of 64 college graduates who have taken a statistics course have a mean of $42,500 with a standard deviation of $6,800. Find an 90% confidence interval for ?μ. (NOTE: Do not use commas or dollar signs in your answers. Round each bound to three decimal places.)
Starting salaries of 90 college graduates who have taken a statistics course have a mean of...
Starting salaries of 90 college graduates who have taken a statistics course have a mean of $43,993 and a standard deviation of $9,144. Using 99% confidence level, find the following: A. Margin of error E B. The confidenxe interval for the mean u
Starting salaries of 140 college graduates who have taken a statistics course have a mean of...
Starting salaries of 140 college graduates who have taken a statistics course have a mean of $43,910. The population standard deviation is known to be $10,625. Using 99% confidence, find both of the following: A. The margin of error: B. Confidence interval: , .
Starting salaries of 60 college graduates who have taken a statistics course have a mean of...
Starting salaries of 60 college graduates who have taken a statistics course have a mean of 43,515. Suppose the distribution of this population is approximately normal and has a standard deviation of 10,863. Using the 98% confidence level, find both the following: the margin error the confidence interval for the mean ų:________ <ų<_______
Starting salaries of 120 college graduates who have taken a statistics course have a mean of...
Starting salaries of 120 college graduates who have taken a statistics course have a mean of $44,449. Suppose the distribution of this population is approximately normal and has a standard deviation of $9,768. Using a 99% confidence level, find both of the following: (NOTE: Do not use commas nor dollar signs in your answers.) (a) The margin of error E:   (b) The confidence interval for the mean :   
Starting salaries of 60 college graduates who have taken a statistics course have a mean of...
Starting salaries of 60 college graduates who have taken a statistics course have a mean of $44,600. Suppose the distribution of this population is approximately normal and has a standard deviation of $8,985. Using an 81% confidence level, find both of the following: (NOTE: Do not use commas nor dollar signs in your answers.) (a) The margin of error:   (b) The confidence interval for the mean μ: <μ<
Starting salaries of 41 college graduates who have taken a statistics course have a mean of...
Starting salaries of 41 college graduates who have taken a statistics course have a mean of $44,753 and a sample standard deviation of $10,905. Using 99% confidence, find both of the following: A. The margin of error ? B. The confidence interval for the mean ?: ? <?< ?
Starting salaries of 110 college graduates who have taken a statistics course have a mean of...
Starting salaries of 110 college graduates who have taken a statistics course have a mean of $42,647. Suppose the distribution of this population is approximately normal and has a standard deviation of $10,972. Using a 75% confidence level, find both of the following: (NOTE: Do not use commas or dollar signs in your answers.) (a) The margin of error:   (b) The confidence interval for the mean μ:  <?<
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT