Question: In my homework problem 40, the scenario is data on the salaries of 61 players on a football team. We are given that we are
In my homework problem 40, the scenario is data on the salaries of 61 players on a football team. We are given that we are interested in the 95% confidence level and the population standard deviation is 3723 thousand dollars.From section 7-2, we know that to be able to use either the normal or the t distribution, either the sample must come from a normally distributed population or the sample size must be greater than 30. In this case, the histogram provided does not seem to have a normal distribution, but the sample size is well above 30.
When the population standard deviationis known,we use the normal distribution, and thus use z/2.For 95% confidence level, = 0.05 and
z/2 = z0.05/2 = z0.025 = 1.96
Please explain how you would then proceed to determine the 95% confidence interval
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