The government wants to carry out similar survey next year. If the error of a point estimate of the mean is not more than $1.5, use the 97% confidence level to determine the sample size required to achieve this error. 1. A survey has been conducted recently to study the hourly wages of part-time employees at the FoodDelivery services sector. The result was organized into the following frequency distribution.Hourly WagesNumber of Part-time Employees$40 – less than $5012$50 – less than $6026$60 – less than $7035$70 – less than $8017$80 – less than $908$90 – less than $100

Confidence level = 97% This implies that, significance level = alpha = 1 - 0.97 = 0.03 Point…

Answered: he government wants to carry out…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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The government wants to carry out similar survey next year. If the error of a point estimate of the mean is not more than $1.5, use the 97% confidence level to determine the sample size required to achieve this error.

1. A survey has been conducted recently to study the hourly wages of part-time employees at the Food
Delivery services sector. The result was organized into the following frequency distribution.
Hourly Wages
Number of Part-time Employees
$40 – less than $50
12
$50 – less than $60
26
$60 – less than $70
35
$70 – less than $80
17
$80 – less than $90
8
$90 – less than $100

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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