SOLUTION: The mean federal income tax paid last year by a random sample of 32 persons selected from a city was $4334. Suppose the standard deviation of tax paid in this city is σ = $864
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Question 1054065: The mean federal income tax paid last year by a random sample of 32 persons selected from a city was $4334. Suppose the standard deviation of tax paid in this city is σ = $864. The 95% confidence interval for the population mean (rounded to two decimal places) is:
The lower limit is $
The upper limit is $
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
95% confidence interval
x̄ =4334, n = 32 and σ= 864
ME = ± , z = invNorm(.975) = 1.96
ME = ±
confidence interval for the population mean ( (rounded to two decimal places)
4334 - ME < < 4334 + ME
|
|
= CI z = value
90% z =1.645
92% z = 1.751
95% z = 1.96
98% z = 2.326
99% z = 2.576
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