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Playbill magazine reported that the mean annual household income of its readers is $119,155 (Playbill, January 2006). Assume this estimate of the mean annual household income is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be σ = $30; 000.
a. Develop a 90% confidence interval estimate of the population mean.
b. Develop a 95% confidence interval estimate of the population mean.
c. Develop a 99% confidence interval estimate of the population mean.
d. Discuss what happens to the width of the confidence interval as the confidence level is increased.
Does this result seem reasonable? Explain.
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Bond redemption The regaining of control of bonds formerly issued by expense of amount due to the owner.
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You are working for the management of ESK Jewellery as a marketing consultant. The main business of ESK Jewellery is the retailing of diamond jewellery. They opened their first sho
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