An executive placement service needs to estimate the average salary of executives placed in a given industry. A random sample of 40 executives gives x-bar = $42,539 and s = $11,690. Give a 90% confidence interval for the average salary of an executive placed in this industry.
Answer to relevant QuestionsThe following is a random sample of the wealth, in billions of U.S. dollars, of individuals listed on the Forbes “Billionaires” list for 2007.8 2.1, 5.8, 7.3, 33.0, 2.0, 8.4, 11.0, 18.4, 4.3, 4.5, 6.0, 13.3, 12.8, 3.6, ...Explain how the postsampling confidence level is derived from a presampling probability. According to an article in Travel & Leisure, an average plot of land in Spain's San Martin wine-producing region yields 600 bottles of wine each year. Assume this average is based on a random sample of 25 plots and that the ...According to BusinessWeek, many Japanese consider their cell phones toys rather than tools. If a random sample of 200 Japanese cell phone owners reveals that 80 of them consider their device a toy, calculate a 90% confidence ...According to BusinessWeek, environmental groups are making headway on American campuses. In a survey of 570 schools, 130 were found to incorporate chapters of environmental organizations.18 Assume this is a random sample of ...
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