Confidence level is 95%, ? is not known, and the normal quantile plot of the 17 salaries
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Confidence level is 95%, ? is not known, and the normal quantile plot of the 17 salaries (thousands of dollars) of Miami Heat basketball players is as shown.
Assume that we want to construct a confidence interval. Do one of the following, as appropriate:?
(a) Find the critical value t?/2,
(b) Find the critical value z?/2,
(c) State that neither the normal distribution nor the t distribution applies.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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