Estimate with 99% confidence the average total family income (TFINCOME) in 2012.
Answer to relevant QuestionsCan we infer that the Americans have on average less than two children (CHILDS)?Can we infer that the average American works more than 40 hours per week (HRS1)?Estimate with 99% confidence the mean amount of time in a typical day spent by American adults watching or reading news on the Internet (TIME1).One important factor in inventory control is the variance of the daily demand for the product. A management scientist has developed the optimal order quantity and reorder point, assuming that the variance is equal to 250. ...Suppose that you used the sample size calculated in Exercise 12.86 and found p̂ = .75.a. Estimate the population proportion with 90% confidence.b. Is this the result you expected? Explain.c. If you were hired to conduct ...
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