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Name: In a certain region, many of the residents are employed by the oil ind
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Description: In a certain region, many of the residents are employed by the oil industry. Economists in the region investigated the difference between the salaries of those who work in oil-field jobs and those who work in non-oil-field jobs. Salaries were recorde

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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In a certain region, many of the residents are employed by the oil industry. Economists in the region investigated the difference between the salaries of those who work in oil-field jobs and those who work in non-oil-field jobs. Salaries were recorded for a random sample of 84 workers from the 1,200 oil-field workers and a random sample of 72 workers from the 50,000 non-oil-field workers in the region. A 95 percent confidence interval for μO−μN, where μO is the mean salary of all jobs of oil-field workers and μN is the mean salary of all jobs of non-oil-field workers, will be constructed. Have the conditions for inference with a confidence interval been met?

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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