An economist would like to estimate the average household income in Okechobee county. The mean household income of a random sample of 260 families in Okechobee county was found to be $37,795. The standard deviation of the household incomes of all households in Okechobee county is known to be $919. Using a 95% confidence level, determine the margin of error, E, and a confidence interval for the average household income in Okechobee county. Report the confidence interval using interval notation. Round solutions to two decimal places, if necessary.The margin of error is given by E=. A 95% confidence interval is given by
An economist would like to estimate the average household income in Okechobee county. The mean household income of a random sample of 260 families in Okechobee county was found to be $37,795. The standard deviation of the household incomes of all households in Okechobee county is known to be $919. Using a 95% confidence level, determine the margin of error, E, and a confidence interval for the average household income in Okechobee county. Report the confidence interval using interval notation. Round solutions to two decimal places, if necessary.The margin of error is given by E=. A 95% confidence interval is given by
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
An economist would like to estimate the average household income in Okechobee county. The mean household income of a random sample of 260 families in Okechobee county was found to be $37,795. The standard deviation of the household incomes of all households in Okechobee county is known to be $919.
Using a 95% confidence level, determine the margin of error, E, and a confidence interval for the average household income in Okechobee county. Report the confidence interval using interval notation. Round solutions to two decimal places, if necessary.The margin of error is given by E=.
A 95% confidence interval is given by
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman