Estimate with 95% confidence the mean income (INCOME) of Americans in 2012.
Answer to relevant QuestionsDo the data provide enough evidence to infer that the average American adult completed more than 12 years of education (EDUC)?Estimate with 99% confidence the average total family income (TFINCOME) in 2012.Estimate with 95% confidence the average American annual income (INCOME).a. The sample variance of a random sample of 50 observations from a normal population was found to be s2 = 80. Can we infer at the 1% significance level that σ2 is less than 100?b. Repeat part (a) increasing the sample size ...One problem facing the manager of maintenance departments is when to change the bulbs in streetlamps. If bulbs are changed only when they burn out, it is quite costly to send crews out to change only one bulb at a time. This ...
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