For the data provided below in the table, find 95% confidence intervals for the mean income, long-term debt, and retirement savings. Use the appropriate formulas and Excel functions
For the data provided below in the table, find 95% confidence intervals for the mean income, long-term debt, and retirement savings. Use the appropriate formulas and Excel functions
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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For the data provided below in the table, find 95% confidence intervals for the mean income, long-term debt, and retirement savings. Use the appropriate formulas and Excel
| Marital Status | Age | Education | Income | Long Term Debt | Debt Paid per Year | Source of Debt | Retirement Savings | Annual Retirement Contribution |
| Single | 28 | Undergraduate Degree | $101,000 | $0 | $0 | N/A | $56,000 | $15,000 |
| Single | 29 | Graduate Degree | $56,000 | $0 | $0 | N/A | $5,000 | $6,720 |
| Single | 28 | Graduate Degree | $120,000 | $84,000 | $12,000 | Education Loans | $23,700 | $13,200 |
| Married | 29 | Undergraduate Degree | $63,500 | $0 | $0 | N/A | $29,000 | $5,800 |
| Single | 26 | Graduate Degree | $48,000 | $12,000 | $3,000 | Education Loans | $18,700 | $5,000 |
| Single | 23 | Undergraduate Degree | $25,200 | $21,000 | $0 | Education Loans | $3,000 | $200 |
| Married | 30 | Undergraduate Degree | $33,000 | $45,000 | $9,600 | Education Loans | $4,000 | $1,000 |
| Single | 30 | Undergraduate Degree | $42,000 | $0 | $0 | N/A | $26,000 | $5,000 |
| Single | 28 | Undergraduate Degree | $38,500 | $17,300 | $4,800 | Auto/Boat Loans | $18,000 | $3,200 |
| Married | 32 | Graduate Degree | $128,200 | $0 | $0 | N/A | $67,000 | $17,500 |
| Married | 38 | Graduate Degree | $83,500 | $0 | $0 | N/A | $169,000 | $10,000 |
| Married | 26 | Undergraduate Degree | $52,000 | $0 | $0 | N/A | $13,500 | $4,500 |
| Single | 28 | Graduate Degree | $189,000 | $103,000 | $18,000 | Education Loans | $16,000 | $27,000 |
| Single | 28 | Graduate Degree | $118,000 | $0 | $0 | N/A | $31,000 | $13,500 |
| Single | 28 | Undergraduate Degree | $36,800 | $11,000 | $2,300 | Auto/Boat Loans | $19,800 | $4,300 |
| Single | 29 | Undergraduate Degree | $58,000 | $0 | $0 | N/A | $32,400 | $8,000 |
| Single | 28 | Undergraduate Degree | $84,000 | $0 | $0 | N/A | $47,000 | $12,700 |
| Single | 29 | Undergraduate Degree | $63,000 | $40,000 | $4,200 | Small Business Loans | $38,000 | $7,650 |
| Single | 33 | Graduate Degree | $138,000 | $36,000 | $7,200 | Education Loans | $98,000 | $14,300 |
| Married | 29 | Graduate Degree | $106,000 | $74,000 | $8,000 | Education Loans | $6,600 | $12,900 |
| Single | 27 | Undergraduate Degree | $43,000 | $13,000 | $3,000 | Auto/Boat Loans | $10,900 | $3,000 |
| Single | 27 | Undergraduate Degree | $68,000 | $8,000 | $2,400 | Auto/Boat Loans | $26,500 | $6,700 |
| Married | 30 | Graduate Degree | $53,000 | $24,000 | $4,100 | Auto/Boat Loans | $31,000 | $5,200 |
| Married | 31 | Graduate Degree | $117,000 | $42,000 | $9,000 | Education Loans | $76,400 | $19,600 |
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