Confidence interval for mean age

Assignment Help Basic Statistics

Reference no: EM13106037

An economics professor randomly selected 100 millionaires in the United States. The average age of these millionaires was 54.8 years with a standard deviation of 7.9 years. What is the 95% confidence interval for the mean age, poplulation mean of all United States millionaires?

Reference no: EM13106037

Questions Cloud

Famous person to perform research-developmental psychology : Who is the famous individual from 20th or 21st centuries to perform research on concerning background to find out what forces have influenced his or her life from perspaective of developmental psychology?

Confidence interval-truckers drove : The average number of miles that 90 truckers drove in a day was 540.0 with a standard deviation of 40 miles. What is the 99% confidence interval of the true mean number of miles driven by all truckers?

Determine the magnitude of the acceleration : An astronaut stands on the steps of her spaceship that is resting on the surface of planet x and drops a rock from a height of 4.5 metres. The rock hits the surface in 0.83 s. Determine the magnitude of the acceleration due to gravity on the surfa..

Calculate the price for individual orders : Determine the price of the shirts from the radio buttons and check boxes for the monogram and pockets. Multiply the quantity by the price to determine the extended price, and add to the order total and summary total

Confidence interval for mean age : An economics professor randomly selected 100 millionaires in the United States. The average age of these millionaires was 54.8 years with a standard deviation of 7.9 years.

Analysis of negotiating field : Assuming that I am the negotiator who is tasked with a salary and benefits dispute between a large municipal county with a strong mayor and the sheriff's department for the county.

What is the max number of steps any worker should be allowed : what is the max number of steps any worker should be allowed.

Testing a hypothesis and confidence interval : What is the value of the population mean? What is the best estimate of this value? Explain why we need to use the t distribution. What assumption do you need to make?

What force does the middle block exert on the leftmost block : What force does the middle block exert on the leftmost block?

User Account

All Pages