With higher unemployment rates for young adults, an increasing number of parents are providing some form of
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With higher unemployment rates for young adults, an increasing number of parents are providing some form of financial support for their adult children. According to a 2013 Harris poll, parents of 18 to 35 year old children spend an average of $ 108 per month for their offspring’s phone, music, video and remote Web services. Assume the population standard deviation for this financial support is $ 33 per month. A random sample of 31 adults with 18 to 35 year old children was selected and was found to have an average of $ 91 per month for this type of financial support.
a. Does this sample provide support for the conclusions of the Harris poll?
b. Identify the symmetrical interval that includes 95% of the sample means if the true population mean is $ 108 per month.
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a Thus theres a 021 chance of observing a sample mean as low as 91 if the popu...View the full answer
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