A random sample of 500 reports an average yearly income of $42,000 with a standard deviation of $1000. An estimate of the parameter at the 95% level is about $175 wide. In this research situationa. the alpha level is 1000. b. we can be 95% confident that the population mean is 42,000 ± 175. c. the sample mean is $175. d. the sample size is much too small to justify the use of estimation procedures. e. we can be 95% confident that the population mean is 42,000 plus or minus 87.50

Question

Kirsten Cross

Mathematics

18 January, 07:10

A random sample of 500 reports an average yearly income of $42,000 with a standard deviation of $1000. An estimate of the parameter at the 95% level is about $175 wide. In this research situationa. the alpha level is 1000. b. we can be 95% confident that the population mean is 42,000 ± 175. c. the sample mean is $175. d. the sample size is much too small to justify the use of estimation procedures. e. we can be 95% confident that the population mean is 42,000 plus or minus 87.50

+3

Answers (1)

Know the Answer?

Brock · Answer 1

E

Step-by-step explanation:

Confidence Interval = mean + or - error margin

Mean = 42,000, error margin = width of estimate of the parameter : 2 = 175 : 2 = 87.50

We can be 95% confident that the population mean is 42,000 plus or minus 87.50