Question: A study compared the individual pre-tax yearly income earned by residents from two states. The following table lists the statistics resulting from this study: Yearly
A study compared the individual pre-tax yearly income earned by residents from two states. The following table lists the statistics resulting from this study:
Yearly Income
Location- State A, Sample Size- 14, Sample Mean ($'000s)- 73, Sample Standard Deviation ($'000s)- 26
Location- State B, Sample Size- 28, Sample Mean ($'000s)- 74, Sample Standard Deviation ($'000s)- 30
A part of the study involved calculating the upper and lower bound of the 95% confidence interval of the mean difference(State A - State B)between the income earned by individuals from the two states. For the purposes of this study, it is assumed that the population standard deviations of the two populations are equal. Calculate the confidence interval. Give your answers to 2 decimal places. You may find thisStudent's t distribution tableuseful.
a)Lower bound =
b)Upper bound =
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