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If the population standard deviation is known to be 4.7 hours, and a random sample of 35 analysts yielded a mean of 50.5 hours, then construct a 90% confidence interval for the mean number of hours worked by entry level analysts. B) In the above confidence interval, suppose that we want a margin of error of +/- 1 hour. What sample size would be needed to achieve this? C) As mentioned in class, it is unlikely that the population standard deviation is known. Suppose instead that the sample standard deviation was 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry level analysts.

If the population standard deviation is known to be 4.7 hours, and a random sample of 35 analysts yielded a mean of 50.5 hours, then construct a 90% confidence interval for the mean number of hours worked by entry level analysts. B) In the above confidence interval, suppose that we want a margin of error of +/- 1 hour. What sample size would be needed to achieve this? C) As mentioned in class, it is unlikely that the population standard deviation is known. Suppose instead that the sample standard deviation was 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry level analysts.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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  1. A survey of entry level corporate analysts in New York City asked, approximately how many hours per week do you work?

A) If the population standard deviation is known to be 4.7 hours, and a random sample of 35 analysts yielded a mean of 50.5 hours, then construct a 90% confidence interval for the mean number of hours worked by entry level analysts.

B) In the above confidence interval, suppose that we want a margin of error of +/- 1 hour. What sample size would be needed to achieve this?

C) As mentioned in class, it is unlikely that the population standard deviation is known. Suppose instead that the sample standard deviation was 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry level analysts.

**4. Survey of Entry Level Corporate Analysts in New York City** A survey was conducted to determine the average number of hours per week that entry-level corporate analysts in New York City work. The survey consisted of the following parts: (a) Given that the population standard deviation is 4.7 hours, a random sample of 35 analysts yielded a mean of 50.5 hours. Construct a 90% confidence interval for the mean number of hours worked by entry-level analysts. (b) In the context of the confidence interval above, suppose we want a margin of error of ±1 hour. What sample size would be needed to achieve this? (c) In class, it was mentioned that it is unlikely the population standard deviation is known. Suppose instead that the sample standard deviation is 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry-level analysts. (Note: No graphs or diagrams are present in the text.)
Transcribed Image Text:**4. Survey of Entry Level Corporate Analysts in New York City** A survey was conducted to determine the average number of hours per week that entry-level corporate analysts in New York City work. The survey consisted of the following parts: (a) Given that the population standard deviation is 4.7 hours, a random sample of 35 analysts yielded a mean of 50.5 hours. Construct a 90% confidence interval for the mean number of hours worked by entry-level analysts. (b) In the context of the confidence interval above, suppose we want a margin of error of ±1 hour. What sample size would be needed to achieve this? (c) In class, it was mentioned that it is unlikely the population standard deviation is known. Suppose instead that the sample standard deviation is 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry-level analysts. (Note: No graphs or diagrams are present in the text.)
4. A survey of entry-level corporate analysts in New York City asked, approximately how many hours per week do you work? (a) If the population standard deviation is known to be 4.7 hours, and a random sample of 35 analysts yielded a mean of 50.5 hours, then construct a 90% confidence interval for the mean number of hours worked by entry-level analysts. (b) In the above confidence interval, suppose that we want a margin of error of +/- 1 hour. What sample size would be needed to achieve this? (c) As mentioned in class, it is unlikely that the population standard deviation is known. Suppose instead that the sample standard deviation was 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry-level analysts.
Transcribed Image Text:4. A survey of entry-level corporate analysts in New York City asked, approximately how many hours per week do you work? (a) If the population standard deviation is known to be 4.7 hours, and a random sample of 35 analysts yielded a mean of 50.5 hours, then construct a 90% confidence interval for the mean number of hours worked by entry-level analysts. (b) In the above confidence interval, suppose that we want a margin of error of +/- 1 hour. What sample size would be needed to achieve this? (c) As mentioned in class, it is unlikely that the population standard deviation is known. Suppose instead that the sample standard deviation was 4.7 hours. Using the other values from part (a), form a 90% confidence interval for the mean number of hours worked by entry-level analysts.
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