The monthly incomes for1212randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below. Assume the population is normally distributed.4450.644450.644596.364596.364366.154366.15 4455.354455.354151.254151.253727.353727.35 4283.284283.284527.054527.054407.644407.64 3946.923946.924023.674023.674221.664221.66 (a) Find the sample mean. x overbarxequals=4263.14263.1(Round to one decimal place as needed.)(b) Find the sample standard deviation. sequals=260.0260.0(Round to one decimal place as needed.)(c) Construct a9595%confidence interval for the population meanmuμ. A9595%confidence interval for the population mean is(nothing,nothing).(Round to one decimal place as needed.)

Name: The monthly incomes for1212randomly selected people, each with a bac
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Description: The monthly incomes for1212randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below. Assume the population is normally distributed.4450.644450.644596.364596.364366.154366.

It is given that the sample size (n) is 12.

Answered: The monthly incomes for 1212 randomly…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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The monthly incomes for

1212

randomly selected people, each with a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below.

Assume the population is normally distributed.

4450.644450.64	4596.364596.36	4366.154366.15
4455.354455.35	4151.254151.25	3727.353727.35
4283.284283.28	4527.054527.05	4407.644407.64
3946.923946.92	4023.674023.67	4221.664221.66

(a) Find the sample mean.

x overbarxequals=4263.14263.1

(Round to one decimal place as needed.)

(b) Find the sample standard deviation.

sequals=260.0260.0

(Round to one decimal place as needed.)

9595%

confidence interval for the population mean

muμ.

9595%

confidence interval for the population mean is

(nothing,nothing).

(Round to one decimal place as needed.)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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