Answered: Mike is investigating possible careers.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

Mike is investigating possible careers. He has decided he will only consider careers with an average starting salary higher than 52400. He collects a sample of 14 job postings for computer programmers, and finds a sample mean salary of 54796, and a sample standard deviation of 5050.

Mike is trying to decide whether he should continue to consider computer programming, or remove it from his list of possible careers.

a. Find the critical t-score for a 94% confidence interval for the average starting salary of a computer programmer. Round your answer to 2 decimal places.

b. Find the margin of error for a 94% confidence interval for the average starting salary of a computer programmer. Round your answer to the nearest whole number.

c. Fill in the blank: We can be % confident that the average starting salary of a computer programmer is between $ and $ .

d. Interpret your result:

- Mike should keep computer programmer in consideration, and collect more data since his desired mean is within the 94% confidence interval.

- Mike should eliminate computer programmer as a possible career, because he can be 94% confident based on his sample that the average starting salary is less than 52400.

- Mike should keep computer programmer in consideration, since he can be 94% confident that the average salary is higher than 52400.

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 + ...

Expert Solution