We want to investigate the income data.  In the Excel file Midterm  Data.xls there is a tab labeled "Income Data 2006".  The data in the tab is the income reported by 400 people in a salary survey.

            •  Compute the sample mean and sample standard deviation for the income data.

            •  Construct a 98% confidence interval for the income data.

            •  If you are working for CNN, how would you explain the confidence interval to your audience?  Does the confidence interval seem small enough?  What would you tell your audience about the implications of this data?  Provide a clear and complete answer.

Posted Date: 3/16/2013 5:35:13 AM | Location : United States

Ask an Expert

Related Discussions:- Compute the sample mean and sample standard deviation, Assignment Help, Ask Question on Compute the sample mean and sample standard deviation, Get Answer, Expert's Help, Compute the sample mean and sample standard deviation Discussions

Write discussion on Compute the sample mean and sample standard deviation
Your posts are moderated

Write your message here..

Related Questions

Number of principal components, While there are p original variables the n... While there are p original variables the number of principal components is m such that m

Evaluate the p - value, Use the given information to find the P-value. T... Use the given information to find the P-value. The test statistic in a two-tailed test is z = 1.49 P-value = (round to four decimal places as needed)

Flow chart for confidence interval, Flow Chart for Confidence Interval ... Flow Chart for Confidence Interval We can now prepare a flow chart for estimating a confidence interval for μ, the population parameter. Figure

Probability distribution of the number of sales, A salesperson visits from ... A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with

Multiple correspondence analysis, Correspondence Analysis (CA) is a general... Correspondence Analysis (CA) is a generalization of PCA to contingency tables. The factors of correspondence analysis give an orthogonal decomposi:ion of the Chi- square associated

Three types of food question?, #There were three types of food, and the res... #There were three types of food, and the researcher recorded which foods were bought. Peanut Butter Banana Hamburger 15

Estimate a linear probability model, Estimate a linear probability model: ... Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump

Need e, dasda dasda

Data project, Choose any published database from the internet or Bethel lib... Choose any published database from the internet or Bethel library (such as those from the Census Bureau or any financial sites). You may opt to use one of the data files provided b

Analysis of variance for the data, Analysis of Variance for the data: ... Analysis of Variance for the data: Draw a random sample of size 25 from the following data : (a) With Replacement and   (b) Without Replacement and obtain Mean and Varia