An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 40 young professionals who spend in clothing found the mean to be P500 and the standard deviation to be P80. Find the best point estimate of the population mean and 95% confidence interval of the population mean. Find the following given: X =. Solution: Use the formula X - Z (%)
An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 40 young professionals who spend in clothing found the mean to be P500 and the standard deviation to be P80. Find the best point estimate of the population mean and 95% confidence interval of the population mean. Find the following given: X =. Solution: Use the formula X - Z (%)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
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1. An independent researcher wishes to estimate the average amount of money a young professional spends in clothing each month. A sample of 30 young professional who spend in clothing found the mean to be Php 500 and the standard deviation to be Php 60. Find 95% confidence interval of the population mean.
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