Because of different sales ability, experience, and devotion, the incomes of real estate agents vary considerably. Suppose

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Because of different sales ability, experience, and devotion, the incomes of real estate agents vary considerably. Suppose that in a large city the annual income is normally distributed with a standard deviation of $15,000. A random sample of 16 real estate agents was asked to report their annual income (in $1,000). The responses are listed here. Determine the 99% confidence interval estimate of the mean annual income of all real estate agents in the city.

Because of different sales ability, experience, and devotion, the incomes

Posted Date: Dec 03, 2021 09:15 AM

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Because of different sales ability, experience, and devotion, the incomes of real estate agents vary considerably. Suppose

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The sample mean will be calculated as shown in the image below next we calculate the 99 confi... View the full answer

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