SOLUTION: The mean federal income tax paid last year by a random sample of 34 persons selected from a city was $4327. Suppose the standard deviation of tax paid in this city is σ = $969
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Question 1078878: The mean federal income tax paid last year by a random sample of 34 persons selected from a city was $4327. Suppose the standard deviation of tax paid in this city is σ = $969. The 95% confidence interval for the population mean (rounded to two decimal places) is:
The lower limit is $
The upper limit is $
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
The CI is z*sigma/sqrt(n)=1.96*969/sqrt (34)=325.72, round to $326.
($4301, $4653)
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