Question: Confidence level is 99%, s = 3342 thousand dollars, and the histogram of 61 player salaries (thousands of dollars) is shown in Exercise 6. Assume

Confidence level is 99%, s = 3342 thousand dollars, and the histogram of 61 player salaries (thousands of dollars) is shown in Exercise 6.

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.

Exercise 6

Confidence level is 90%, s is not known, and the histogram of 61 player salaries (thousands of dollars) is as shown.

30- 20 4000 8000 12000 16000 20000 Salary (thousands of dollars) Frequency

30- 20 4000 8000 12000 16000 20000 Salary (thousands of dollars) Frequency

Step by Step Solution

3.46 Rating (179 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

z 2 2576 T... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Elementary Statistics Excel Questions!