SOLUTION: We sampled 800 NY teachers for their annual income. In our sample,
the average annual income is $60,000 and the standard deviation of annual
incomes is $7,500. Based on that sam
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-> SOLUTION: We sampled 800 NY teachers for their annual income. In our sample,
the average annual income is $60,000 and the standard deviation of annual
incomes is $7,500. Based on that sam
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Question 1199106: We sampled 800 NY teachers for their annual income. In our sample,
the average annual income is $60,000 and the standard deviation of annual
incomes is $7,500. Based on that sample, we want to predict the mean annual
income μ of all the NY teachers with the confidence level of 0.99 (99 percent).
Part a) What prediction do we make about μ?
Part b) What is the error bound/margin E in that prediction? Answer by ikleyn(52788) (Show Source):
