Question

In: Statistics and Probability

A job candidate with an offer from a prominent investment bank wanted to estimate how many...

A job candidate with an offer from a prominent investment bank wanted to estimate how many hours she would have to work per week during her first year at the bank. She took a sample of six first-year analysts, asking how many hours they worked in the last week. Construct a 95% confidence interval with her results: 64, 82, 74, 73, 78, and 87 hours.

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Expert Solution

We have for given data,              
              
Sample mean =76.33      
Sample standard deviation =7.2725  
Sample size =6      
Level of significance=1-0.95=0.05      
Degree of freedom =5      
              
t critical value is (by using t table)=   2.571      
              
Confidence interval formula is               


=(68.697,83.963)  

orchestra answered 2 years ago
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