# Question

Suppose a random sample of 14 people 30–39 years of age produced the household incomes shown here. Use these data to determine a point estimate for the population variance of household incomes for people 30–39 years of age and construct a 95% confidence interval. Assume household income is normally distributed.

$37,500 ... 44,800

33,500 ..... 36,900

42,300 ..... 32,400

28,000 ..... 41,200

46,600 ..... 38,500

40,200 ..... 32,000

35,500 ..... 36,800

$37,500 ... 44,800

33,500 ..... 36,900

42,300 ..... 32,400

28,000 ..... 41,200

46,600 ..... 38,500

40,200 ..... 32,000

35,500 ..... 36,800

## Answer to relevant Questions

Determine the sample size necessary to estimate for the following information.a. σ = 36 and E = 5 at 95% confidenceb. σ = 4.13 and E = 1 at 99% confidencec. Values range from 80 to 500, error is to be within 10, and the ...What proportion of shoppers at a large appliance store actually makes a large-ticket purchase? To estimate this proportion within 10% and be 95% confident of the results, how large a sample should you take? Assume you have ...Use the data in Problem 8.53 to construct a 99% confidence interval to estimate the population variance for the number of diapers used during a 24-hour period for one-month-olds. How could information about the population ...A national survey of companies included a question that asked whether the company had at least one bilingual telephone operator. The sample results of 90 companies follow (Y denotes that the company does have at least one ...Suppose you have been following a particular airline stock for many years. You are interested in determining the average daily price of this stock in a 10-year period and you have access to the stock reports for these years. ...Post your question

0