SOLUTION: The union for a particular industry has determined that the standard deviation of the daily wages of its workers is $20. A random sample of 50 workers in this industry has a mean d
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Question 548363: The union for a particular industry has determined that the standard deviation of the daily wages of its workers is $20. A random sample of 50 workers in this industry has a mean daily wage of $12. Find a 99% confidence interval for the true mean daily wage of all union workers in the industry. Then complete the table below. Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
What is the lower limit of the 99% confidence interval
What is the upper limit of the 99% confidence interval Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! The union for a particular industry has determined that the standard deviation of the daily wages of its workers is $20. A random sample of 50 workers in this industry has a mean daily wage of $12. Find a 99% confidence interval for the true mean daily wage of all union workers in the industry. Then complete the table below. Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
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sample mean = x-bar = 12
ME = 2.5758 = 7.2855
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What is the lower limit of the 99% confidence interval::x-bar-ME
What is the upper limit of the 99% confidence interval::x-bar+ME
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Cheers,
Stan H.
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