Assume the values in your dataset are a sample from a larger population, even if that doesn't make sense for your application. Form a 95% confidence interval for the population mean for this variable. Interpret your confidence interval for a business audience from the following results. Hourly Wage Margin of error 11.05 Sample mean $45.26 upper bound $56.32 lower bound $34.21
Assume the values in your dataset are a sample from a larger population, even if that doesn't make sense for your application. Form a 95% confidence interval for the population mean for this variable. Interpret your confidence interval for a business audience from the following results. Hourly Wage Margin of error 11.05 Sample mean $45.26 upper bound $56.32 lower bound $34.21
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 8SGR
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![Assume the values in your dataset are a sample from a larger population, even if that
doesn't make sense for your application. Form a 95% confidence interval for the
population mean for this variable. Interpret your confidence interval for a business
audience from the following results.
Hourly Wage
Margin of error
11.05
Sample mean
$45.26
upper bound
$56.32
lower bound
$34.21](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22109ddf-7475-4763-80a0-8d67ca1c3fc7%2Ffaba06b3-14bf-46a6-b3a8-8a46ed06fd0e%2F0iy6seb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume the values in your dataset are a sample from a larger population, even if that
doesn't make sense for your application. Form a 95% confidence interval for the
population mean for this variable. Interpret your confidence interval for a business
audience from the following results.
Hourly Wage
Margin of error
11.05
Sample mean
$45.26
upper bound
$56.32
lower bound
$34.21
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