Merrill Lynch Securities and Health Care Retirement Inc. are two large employers in downtown Toledo, Ohio. They are considering jointly offering child care for their employees. As a part of the feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A sample of 10 employees who use child care reveals the following amounts spent last week: $107 $92 $97 $95 $105 $101 $91 $99 $95 $104 Let these values represent a random sample drawn from a normally distributed population. Find a 90% confidence interval for the mean weekly child-care cost (you don’t have to show your calculations of the necessary sample statistics – use a device for that -- but give their values). Do show your calculation the margin of error and CI.
Merrill Lynch Securities and Health Care Retirement Inc. are two large employers in downtown Toledo, Ohio. They are considering jointly offering child care for their employees. As a part of the feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A sample of 10 employees who use child care reveals the following amounts spent last week:
$107 $92 $97 $95 $105 $101 $91 $99 $95 $104
Let these values represent a random sample drawn from a
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
