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Develop a confidence interval for a population parameter

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Reference no: EM132451598

Competency

Question 1: Given a real-life application, develop a confidence interval for a population parameter and its interpretation.

Instructions

Scenario

  • A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:
  1. A listing of the jobs by title
  2. The salary (in dollars) for each job
  3. You have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals.

Background information on the Data

  • The data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $30,000 to $200,000 for the state of Minnesota.

Attachment:- real life app.rar

Reference no: EM132451598

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