Question

Playbill magazine reported that the mean annual household income of its readers is $119,155 (Playbill, January 2006). Assume this estimate of the mean annual household income is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be σ  $30,000.
a. Develop a 90% confidence interval estimate of the population mean.
b. Develop a 95% confidence interval estimate of the population mean.
c. Develop a 99% confidence interval estimate of the population mean.
d. Discuss what happens to the width of the confidence interval as the confidence level is increased. Does this result seem reasonable? Explain.


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  • CreatedSeptember 20, 2015
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