Suppose a random sample of 14 people 30-39 years of age produced the household incomes shown here. Use these data to determine a point estimate for the population variance of household incomes for people 30-39 years of age and construct a 95% confidence interval. Assume household income is normally distributed. $ 36,600 $44,800 33,500 34,900 42,300 32,400 27,800 41,200 46,600 38,500 40,200 31,300 35,500 36,800

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

q47

Suppose a random sample of 14 people 30-39
years of age produced the household incomes
shown here. Use these data to determine a
point estimate for the population variance of
household incomes for people 30-39 years of
age and construct a 95% confidence interval.
Assume household income is normally
distributed.
$ 36,600 $44,800
33,500
34,900
42,300
32,400
27,800
41,200
46,600
38,500
40,200
31,300
35,500
36,800
(Round your answers to 2 decimal places,
e.g. 458930.75.)
The point estimate is
so?s
Transcribed Image Text:Suppose a random sample of 14 people 30-39 years of age produced the household incomes shown here. Use these data to determine a point estimate for the population variance of household incomes for people 30-39 years of age and construct a 95% confidence interval. Assume household income is normally distributed. $ 36,600 $44,800 33,500 34,900 42,300 32,400 27,800 41,200 46,600 38,500 40,200 31,300 35,500 36,800 (Round your answers to 2 decimal places, e.g. 458930.75.) The point estimate is so?s
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman