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Name: The 95% confidence interval for the difference in mean income between
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Description: The 95% confidence interval for the difference in mean income between US-born and foreign-born adults is (-2327, 7216). What is the correct interpretation of this 95% confidence interval? Choose from the answers provided: A: We are confident that 95

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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The 95% confidence interval for the difference in mean income between US-born and foreign-born adults is (-2327, 7216). What is the correct interpretation of this 95% confidence interval?

Choose from the answers provided:

A: We are confident that 95% of US-born adults in the sample have an income higher than that of the foreign-born

B: We are 95% confident that the population mean income of US-born adults is between 2,327 dollars lower and 7,216 dollars higher than the population mean income of foreign-born adults

C: We are 95% confident that the mean income of US-born respondents in the GSS sample is between 2,327 dollars lower and 7,216 dollars higher than the mean income of foreign-born GSS respondents

D: We are confident that 95% in the population, the mean of foreign-born adults falls between -2,327 dollars and 7,216 dollars

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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