East West n1 = 40 n2 = 45 X bar = 72 (in $1,000) X bar = 78 (in $1,000) s1 = 6 (in $1,000) s2 = 8 (in $1,000) a. Develop an interval estimate for the difference between the
East West n1 = 40 n2 = 45 X bar = 72 (in $1,000) X bar = 78 (in $1,000) s1 = 6 (in $1,000) s2 = 8 (in $1,000) a. Develop an interval estimate for the difference between the
East West n1 = 40 n2 = 45 X bar = 72 (in $1,000) X bar = 78 (in $1,000) s1 = 6 (in $1,000) s2 = 8 (in $1,000) a. Develop an interval estimate for the difference between the
In order to estimate the difference between the yearly incomes of marketing managers in the East and West of the United States, the following information was gathered.
East
West
n1 = 40
n2 = 45
X bar = 72 (in $1,000)
X bar = 78 (in $1,000)
s1 = 6 (in $1,000)
s2 = 8 (in $1,000)
a.
Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the East and West. Use a = 0.05.
Give the upper boundary answer to two decimal points. The lower boundary is -9.084 Give the upper boundary only.
Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.
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