Question

A sample of households shows the following statistics about household income: Mean: 60000 Standard Deviation: 5000...

A sample of households shows the following statistics about household income:

Mean: 60000

Standard Deviation: 5000

Sample Size: 10

At the 80% confidence level, what is the upper limit for the confidence interval formed with these values? Round to 2 decimal places.

Homework Answers

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
1. A sample of households in Colorado shows the following statistics about household income: Mean: 67000...
1. A sample of households in Colorado shows the following statistics about household income: Mean: 67000 Standard Deviation: 5700 Sample Size: 17 At the 87% confidence level, what is the upper limit for the confidence interval formed with these values? Round to 2 decimal places. AND 2. A sample of households in Colorado shows the following statistics about household income: Mean: 60000 Standard Deviation: 5000 Sample Size: 10 At the 80% confidence level, what is the lower limit the confidence...
1)Given a sample mean is82, the sample size is 100and the population standard deviation is 20....
1)Given a sample mean is82, the sample size is 100and the population standard deviation is 20. Calculate the margin of error to 2 decimalsfor a 90% confidence level. 2)Given a sample mean is 82, the sample size is 100 and the population standard deviation is 20. Calculate the confidence interval for 90% confidence level. What is the lower limit value to 2 decimals? 3)Given a sample mean is 82, the sample size is 100 and the population standard deviation is...
With 90% confidence, for sample mean 325.50, sample standard deviation 13.50, and sample size 35, what...
With 90% confidence, for sample mean 325.50, sample standard deviation 13.50, and sample size 35, what is the upper confidence limit with 2 decimal places?
With 90% confidence, for sample mean 319.50, sample standard deviation 11.50, and sample size 35, what...
With 90% confidence, for sample mean 319.50, sample standard deviation 11.50, and sample size 35, what is the upper confidence limit with 2 decimal places?
A survey is conducted to estimate the average household income in a large metropolitan area. A...
A survey is conducted to estimate the average household income in a large metropolitan area. A random sample of 150 households in this area yielded an average household income of $55,000 with a standard deviation of $13,200. (a) Construct a 95% confidence interval for the mean household income in this area. (Choose the BEST answer) (b) All other information remaining unchanged, which of the following would produce a wider interval than the 95% confidence interval constructed above from Problem (a)?...
With 90 percent confidence, for sample mean 342.50, sample standard deviation 12.60, and sample size 35,...
With 90 percent confidence, for sample mean 342.50, sample standard deviation 12.60, and sample size 35, what is the upper confidence limit with 2 decimal places?
1. A random sample of 100 households in Skagit County yielded an average household income of...
1. A random sample of 100 households in Skagit County yielded an average household income of $71,000, with a sample standard deviation of $3,800. Assume the distribution of household income is Normal. a. Use this information to compute a 95% confidence interval for the population mean household income in Skagit County. Please clearly show that you checked to make sure the data meet all necessary conditions for inference. b. Interpret the meaning of the confidence interval you found in part...
A simple random sample of size 10 has a mean of 69.0 and a sample standard...
A simple random sample of size 10 has a mean of 69.0 and a sample standard deviation of 9.0. A student would like to test the null hypothesis, ?0:?=75.0 , against the alternative, ?1:?<75.0 . Construct a confidence interval corresponding to this test at significance level ?=10% . Give your answer precise to two decimal places. What is the upper and lower limit?
A certain region of the U.S. with over 500,000 households has a mean household income of...
A certain region of the U.S. with over 500,000 households has a mean household income of $70,000 and a standard deviation of $20,000. Economists plan to take random sample of 625 households and calculate the sample mean income ?̅ for each sample. What is the mean and standard deviation of the sampling distribution of ?̅?
A simple random sample of 70 items resulted in a sample mean of 80. The population standard deviation is
A simple random sample of 70 items resulted in a sample mean of 80. The population standard deviation isσ = 15.(a)Compute the 95% confidence interval for the population mean. (Round your answers to two decimal places.)to(b)Assume that the same sample mean was obtained from a sample of 140 items. Provide a 95% confidence interval for the population mean. (Round your answers to two decimal places.)to(c)What is the effect of a larger sample size on the interval estimate?A larger sample size...