Question

An economist wants to estimate the mean hourly wage of all workers. She collects data on 50 hourly wage earners. A portion of the data is shown in the accompanying table; the complete data set, labeled Hourly_Wage, can be found on the text website. Assume that the population standard deviation is $6. Construct and interpret 90% and 99% confidence intervals for the mean hourly wage of all workers.
Hourly Wage (in $)
37.85
21.72
:
24.18



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  • CreatedJanuary 28, 2015
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