Right interpretation for the margin-of-error

Reference no: EM13101393

Based on a simple random sample of one hundred an analyst estimates the average hourly wage earned by workers in a city to be $30 and computes the margin of error to be $5. Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this the right interpretation for the margin of error?

Reference no: EM13101393

Questions Cloud

Examine the reasons for the increase in mini-multinational : Examine the reasons for the increase in mini-multinational organization. Illustrate what benefits and barriers do these firms encounter when they enter into international trade and investment?

Binomial probability-telephone booth : Assume the probability that a telephone in any given telephone booth is defective is 0.2. Determine the probability that if 8 phone booths are examined, the number of defective phones is exactly 3.

A cross-functional team is composed of : Groupthink takes place because group members A cross-functional team is composed of

Examine six search strategies that the companies can use : Using the internet tools critically Examine six search strategies that the companies can use and examine the danger of over reliance on such information.

Right interpretation for the margin-of-error : Based on a simple random sample of one hundred an analyst estimates the average hourly wage earned by workers in a city to be $30 and computes the margin of error to be $5. Can we conclude from this that most workers there earn between $25 and $35..

Normal probability-reaction time of female candidates : In a standard test for reaction time, female candidates for flight school are found to have times that are normally distributed with a mean of 0.65 seconds and a standard deviation of 0.15 seconds.

Find the radius of a solid aluminum sphere : One cubic meter (1.00 m3) of aluminum has a mass of 2.70 103 kg, and the same volume of iron has a mass of 7.86 103 kg. Find the radius of a solid aluminum sphere that will balance a solid iron sphere of radius 1.24 cm on an equal-arm balance.

Examine precursors and consequences of behaviors : Explain the context in which the behaviors occurred. Examine precursors and consequences of behaviors in terms of social psychology concepts.

Illustrate what is the competition environment of ray ban : Illustrate what influence has the imitations on the ray ban pricing strategy and illustrate what is the competition environment of ray ban sunglasses.

User Account

All Pages