Question 28 Previous QUESTION 17 An economist is interested in studying the monthly incomes of consumers in a particular region The population standard deviation of monthly income is known to be RM1000. A random sample of 55 individuals resulted in an average monthly income of RM15,000. What is the upper end point in a 99 % confidence interval for the average monthly income in this region? A) RM15,364 B) RM15.328 C) RM15,347 D) RM15 382 A.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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Question 28
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QUESTION 17
An economist is interested in studying the monthly incomes of consumers in a particular region
The population standard deviation of monthly income is known to be RM1000. A random
sample of 55 individuals resulted in an average monthly income of RM15,000. What is the
upper end point in a 99 % confidence interval for the average monthly income in this region?
A) RM15,364
B) RM15,328
C) RM15,347
D) RM15 382
Transcribed Image Text:Question 28 Previous QUESTION 17 An economist is interested in studying the monthly incomes of consumers in a particular region The population standard deviation of monthly income is known to be RM1000. A random sample of 55 individuals resulted in an average monthly income of RM15,000. What is the upper end point in a 99 % confidence interval for the average monthly income in this region? A) RM15,364 B) RM15,328 C) RM15,347 D) RM15 382
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