The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation of $100,895; the distribution is highly right-skewed. Use this information to answer questions 7 to 10 below. A random sample of n = 86 workers is drawn, and their annual earnings recorded. What is the expected value of the sample mean of their annual earnings? $100,895 $750,950 $942 $80,977

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
QUESTION 7
The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation of $100,895; the distribution is
highly right-skewed. Use this information to answer questions 7 to 10 below. A random sample of n = 86 workers is drawn, and their
annual earnings recorded.
What is the expected value of the sample mean of their annual earnings?
$100,895
$750,950
O $942
$80,977
QUESTION 8
What is the standard deviation of the sample mean of their annual earnings?
$14
$100,895
$1,173
O $10,880
QUESTION 9
What is the probability that the sample mean is at least $100,000?
0.9598
O 1.0000
0.0000
0.0402
QUESTION 10
The actual sample mean earnings for the random sample of 86 workers with advanced degrees was $82,105. What is the sampling error?
O S-8, 466
O $8, 466
O $1, 128
O S-1, 128
Transcribed Image Text:QUESTION 7 The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation of $100,895; the distribution is highly right-skewed. Use this information to answer questions 7 to 10 below. A random sample of n = 86 workers is drawn, and their annual earnings recorded. What is the expected value of the sample mean of their annual earnings? $100,895 $750,950 O $942 $80,977 QUESTION 8 What is the standard deviation of the sample mean of their annual earnings? $14 $100,895 $1,173 O $10,880 QUESTION 9 What is the probability that the sample mean is at least $100,000? 0.9598 O 1.0000 0.0000 0.0402 QUESTION 10 The actual sample mean earnings for the random sample of 86 workers with advanced degrees was $82,105. What is the sampling error? O S-8, 466 O $8, 466 O $1, 128 O S-1, 128
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Point Estimation, Limit Theorems, Approximations, and Bounds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
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