Regular wages in the general labor market averaged ISK 334 thousand per month in 2009. Aclass of 200 people examines the monthly wages of 25 randomly selected individuals thatyear and calculates a 95% confidence interval for the average wage.Questions 1 and 2 deal with the average wage.1. How can it be expected that approximately many students will calculate aconfidence interval that does not contain the number 334 thousand?1. 52. 103. 204. 1002. Let us now assume that each student will examine the monthly salary of 500individuals. How can it be expected that approximately many students will calculatea confidence interval that does not contain the number 334 thousand?1. 52. 103. 204. 100

From the given data: Confidence level=95% Level of significance=0.05

Regular wages in the general labor market averaged ISK 334 thousand per month in 2009. A class of 200 people examines the monthly wages of 25 randomly selected individuals that year and calculates a 95% confidence interval for the average wage.

Regular wages in the general labor market averaged ISK 334 thousand per month in 2009. A class of 200 people examines the monthly wages of 25 randomly selected individuals that year and calculates a 95% confidence interval for the average wage.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

Regular wages in the general labor market averaged ISK 334 thousand per month in 2009. A
class of 200 people examines the monthly wages of 25 randomly selected individuals that
year and calculates a 95% confidence interval for the average wage.
Questions 1 and 2 deal with the average wage.
1. How can it be expected that approximately many students will calculate a
confidence interval that does not contain the number 334 thousand?
1. 5
2. 10
3. 20
4. 100
2. Let us now assume that each student will examine the monthly salary of 500
individuals. How can it be expected that approximately many students will calculate
a confidence interval that does not contain the number 334 thousand?
1. 5
2. 10
3. 20
4. 100

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