Question

The income of brokers in Tampa is normally distributed. A sample of 14 of them has...

The income of brokers in Tampa is normally distributed. A sample of 14 of them has an average yearly income of 86000 dollars with standard deviation of 12000 dollars. Find a 98% CI for the yearly mean income.

Homework Answers

Answer #1

TOPIC:Confidence interval for the population mean.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
18. The income of a group of financial brokers is normally distributed. A sample of 14...
18. The income of a group of financial brokers is normally distributed. A sample of 14 of the brokers has an average yearly income of $86,000. Suppose the population standard deviation is $12,000. Test with α = 0.05 whether the yearly mean income of the group of brokers is more than $80,000. a. State and label the null and alternative hypotheses. (2 points) b. State the value of the test statistic. (2 points) c. Find either the critical value(s) and...
A sample average of size 14 is drawn from a normally distributed population and has a...
A sample average of size 14 is drawn from a normally distributed population and has a mean of 77 and a standard deviation of 14. Find the lower end, if 95% of all possible sample averages?
A normally distributed population has a mean of 72 and a standard deviation of 14. Determine...
A normally distributed population has a mean of 72 and a standard deviation of 14. Determine the probability that a random sample of size 35 has an average greater than 73. Round to four decimal places.
A random sample of size 14 was taken from a normally distributed population with a population...
A random sample of size 14 was taken from a normally distributed population with a population mean 25 and a population standard deviation 6. Determine each of the following about the sampling distribution of the sample mean. Round your answer to at least 3 decimal places where appropriate. a) μx_= b) σx_= c)  Can we conclude that the sampling distribution of the sample mean is normal? Yes or No
a.) A sample set is normally distributed with a mean of 2.8 and a standard deviation...
a.) A sample set is normally distributed with a mean of 2.8 and a standard deviation of 0.7. Approximately, what percentage of the sample is between the values of 2.1 and 3.5? b.) A sample set is normally distributed with a mean of 66 and a standard deviation of 8. Find a z-score corresponding to a given value of 82.
A sample of 81 students has a mean GPA of 3.25.  The sample is normally distributed, and...
A sample of 81 students has a mean GPA of 3.25.  The sample is normally distributed, and the population standard deviation is found to be 0.63 grade points.  Find the Lower Limit of the 95% confidence interval. (express your answers rounded to two decimal places)
Data about salaries showed that staff nurses in Tampa earn less than staff nurses in Dallas...
Data about salaries showed that staff nurses in Tampa earn less than staff nurses in Dallas (The Tampa Tribune, Jan 15, 2007). You are a manager at a Tampa hospital and want to test the claim of the Tribune. You conduct a follow up survey of a random sample of 25 staff nurses in Tampa and a random sample of 28 staff nurses in Dallas. You find that the sample from Tampa showed an average salary of $52000 with a...
The length of time for an online grocery delivery service is normally distributed and has a...
The length of time for an online grocery delivery service is normally distributed and has a known population standard deviation of 11 minutes and an unknown population mean. A random sample of 15 deliveries is taken and gives a sample mean of 101 minutes. Use a calculator to find the confidence interval for the population mean with a 98% confidence level. Round the final answer to two decimal places. Provide your answer below: ( , )
A random variable is normally distributed. It has a mean of 245 and a standard deviation...
A random variable is normally distributed. It has a mean of 245 and a standard deviation of 21. a.) For a sample of size 10, state the mean of the sample mean and the standard deviation of the sample mean. b.) For a sample of size 10, find the probability that the sample mean is more than 230.
A normally distributed population has a mean of 58 and a standard deviation of 18. Sample...
A normally distributed population has a mean of 58 and a standard deviation of 18. Sample avergaes from samples of size 12 are collected. What would be the lower end of the centered interval that contains 90% of all possible sample averages? Round to the nearest hundredth QUESTION 10 At a certain restaurant in Chicago, the average time it takes a person to eat a nice dinner is 49 minutes with a standard deviation of 18 minutes. These times are...