1. A survey of 35 accountants shows the average salary is $60,000 with a population std...

1. A survey of 35 accountants shows the average salary is $60,000 with a population std deviation of $8,000.

a) what is a 95 % confidence interval of the true mean of the population.?

b) What is the margin of error ?

2. The average time to be served at a diner is 10 minutes with a standard deviation of 3 minutes based on a survey of 20 customers.

a) what is a 99 % confidence interval of the true mean of the population.?

b) What is the margin of error ?

Please explain how you got your answer, I am having troubling understanding the concept. Thank you!

Expert Solution

orchestra answered 2 years ago

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