The average salary of 81 random employees in a certain financial sector was 3400 USD. From past information, we can assume that the standard deviation of the population is 450 USD. We are interested in the 90% confidence interval for the population mean. What is the value of the standard error? Select one: O a. 50 O b. 40 O c. 60 O d. 30

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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The average salary of 81 random employees in a certain financial sector was 3400 USD. From past information, we can
assume that the standard deviation of the population is 450 USD. We are interested in the 90% confidence interval for the
population mean. What is the value of the standard error?
Select one:
O a. 50
O b. 40
O c. 60
O d. 30
Transcribed Image Text:The average salary of 81 random employees in a certain financial sector was 3400 USD. From past information, we can assume that the standard deviation of the population is 450 USD. We are interested in the 90% confidence interval for the population mean. What is the value of the standard error? Select one: O a. 50 O b. 40 O c. 60 O d. 30
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