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.

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Asked Oct 18, 2019
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  1. 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.
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Expert Answer

Step 1

It is given that,

Sample mean = $255,000.

Sample standard deviation = $99,500.

The sample size, n is 100.

Z value for 95% co...

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