Question: https://www.perdisco.com/resources/html/statsData/data_mstCiCim060010b.html You are working for a government department and your boss, Jane, has asked you to calculate some results on weekly household income across the

https://www.perdisco.com/resources/html/statsData/data_mstCiCim060010b.html

https://www.perdisco.com/resources/html/statsData/data_mstCiCim060010b.html You are working for a government department and your boss, Jane,

You are working for a government department and your boss, Jane, has asked you to calculate some results on weekly household income across the state, including a 95% confidence interval for the mean weekly household income that she needs to include in a report. She also says that she is not sure exactly what a 95% confidence interval means and would like you to add an explanation. You have been supplied with a sample of weekly income gures for 110 households. The data is presented here: Weekly household income ($) Download the data 1439 1559 981 1388 2176 2098 1679 1761 1765 1059 1809 2058 1491 862 1681 1973 1845 1469 2287 1476 1615 1462 1091 1540 961 1677 1756 1658 1981 1198 2405 1849 1765 917 2165 2441 1405 2224 1410 2068 1435 1697 1467 1947 970 1216 1160 1890 1746 1767 1525 2128 2093 1621 705 2174 1108 1783 943 1465 1521 1471 886 1609 1742 1483 1757 1728 1788 1222 1973 1224 1248 361 Historically, the standard deviation in weekly household income is $444. Complete the report to your boss. Give your numeric answers to 2 decimal places. To: Sent: July 30, 2021 11:10 AM Jane Johnson Subject: Weekly household income results Dear Jane, a) Sus b) This means that Here are the results gathered from the collected data: 0 approximately 95% of sample means will be within the interval given above 0 on approximately 95% of days in a given period the stock makes a return within the interval given above 0 the population mean weekly household income is denitely within the interval given above 0 using a process that gives correct results in 95% of cases, the population mean weekly household income is within the interval given above Assuming a population standard deviation in weekly household income of $444, the 95% confidence interval for the mean weekly household income is

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Mathematics Questions!