study of the consultants in a particular industry has determined that the standard deviation of the hourly fee of the consultants is $20. A random sample of 60 consultants in the industry has a mean hourly fee of $120. Find a 95% confidence interval for the true mean hourly fee of all consultants in the industry. Then give its lower limit and upper limit. Carry your intermediate computations

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 11PPS
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A study of the consultants in a particular industry has determined that the standard deviation of the hourly fee of the consultants is $20. A random sample of 60 consultants in the industry has a mean hourly fee of $120. Find a 95% confidence interval for the true mean hourly fee of all consultants in the industry. Then give its lower limit and upper limit.

Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.

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