Question
A random sample of 31 people employed by the Florida state authority established they earned an average wage (including benefits) of $56 per hour. The sample standard deviation was $6.35 per hour.
(a)What is your best estimate of the population mean?
(b)Develop a 99 percent confidence interval for the population mean wage (including benefits) for these employees.
(c)How large a sample is needed to assess the population mean with an allowable error of $2 at 95 percent confidence?
(a)What is your best estimate of the population mean?
(b)Develop a 99 percent confidence interval for the population mean wage (including benefits) for these employees.
(c)How large a sample is needed to assess the population mean with an allowable error of $2 at 95 percent confidence?