The com reported the medical doctors’ salary level. The mean salary for the doctor is $250,000 and standard deviation of $100,000. Find the following probabilities assuming that doctor’s salary has a normal distribution. Suppose we don’t have any information about population, and from a sample of 100 doctors, we find the sample mean salary was $255,000 with the standard deviation of $99,500. What is the 95% confidence interval?Based on the standard deviation of $100,000 and allow the margin of errors to $20,000, what is your sample size should be at 95% confidence level.

Name: The com reported the medical doctors’ salary level. The mean salary
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Description: The com reported the medical doctors’ salary level. The mean salary for the doctor is $250,000 and standard deviation of $100,000. Find the following probabilities assuming that doctor’s salary has a normal distribution. Suppose we don’t have any

It is given that,Sample mean = $255,000.Sample standard deviation = $99,500.The sample size, n is…

Answered: The com reported the medical doctors’…

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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The com reported the medical doctors’ salary level. The mean salary for the doctor is $250,000 and standard deviation of $100,000. Find the following probabilities assuming that doctor’s salary has a normal distribution.

Suppose we don’t have any information about population, and from a sample of 100 doctors, we find the sample mean salary was $255,000 with the standard deviation of $99,500. What is the 95% confidence interval?
Based on the standard deviation of $100,000 and allow the margin of errors to $20,000, what is your sample size should be at 95% confidence level.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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