Construct a 90% confidence interval for the true average monthly salary earned by all employees of People Plus Pty, if it was found that the average monthly salary earned by a sample of 16 employees of the company was R17 500, with a standard deviation of R1 650. Interpret your answer.   4.3 What can we do to make the confidence interval narrower in Q.4.2, without changing the confidence level

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
icon
Related questions
Topic Video
Question

4.2 Construct a 90% confidence interval for the true average monthly salary earned by all employees of People Plus Pty, if it was found that the average monthly salary earned by a sample of 16 employees of the company was R17 500, with a standard deviation of R1 650. Interpret your answer.  

4.3 What can we do to make the confidence interval narrower in Q.4.2, without changing the confidence level?

Expert Solution
steps

Step by step

Solved in 4 steps with 4 images

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
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.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill