The monthly incomes (in $1,000) from a random sample of eight workers in a factory are 4.2,

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The monthly incomes (in $1,000) from a random sample of eight workers in a factory are 4.2, 5.1, 7.8, 6.2, 8.2, 5.5, 6.7, and 9.1. Assume the population has a normal distribution. Give your answer for (a) and (b).

(a) Compute the standard error of the sample mean (in dollars).

(b) Compute a 95 % confidence interval for the mean of the population.

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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Question Posted: Feb 17, 2024 11:37 PM

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The monthly incomes (in $1,000) from a random sample of eight workers in a factory are 4.2,

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a To compute the standard error of the sample mean SE you can use the formula SE s sqrtn where s is ...View the full answer

Statistics For Business And Financial Economics

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