Compute the sample mean and sample standard deviation, Applied Statistics

Assignment Help:

We want to investigate the income data.  In the Excel file Midterm  Data.xls there is a tab labeled "Income Data 2006".  The data in the tab is the income reported by 400 people in a salary survey.

            •  Compute the sample mean and sample standard deviation for the income data.

            •  Construct a 98% confidence interval for the income data.

            •  If you are working for CNN, how would you explain the confidence interval to your audience?  Does the confidence interval seem small enough?  What would you tell your audience about the implications of this data?  Provide a clear and complete answer.


Related Discussions:- Compute the sample mean and sample standard deviation

Hypothesis, What is a null hypothesis? ..

What is a null hypothesis? ..

#title. .explanatory factor analysis, how to compute reliability coefficien...

how to compute reliability coefficient for extracted factors in factor analysis?

Use of calculators in statistics, In recent years a number of calculators a...

In recent years a number of calculators are available for doing statistical calculations over and above the usual addition, subtraction, multiplication and division. The fx-82 mode

Regression model, Using a random sample of 670 individuals for the populati...

Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in

Factor loadings matrix, As we stated above, we start factor analysis with p...

As we stated above, we start factor analysis with principal component analysis, but we quickly diverge as we apply the a priori knowledge we brought to the problem. This knowled

Steps in anova, Steps in ANOVA The three steps which constitute the ana...

Steps in ANOVA The three steps which constitute the analysis of variance are as follows: To determine an estimate of the population variance from the variance that exi

Stk, The mean tax-return preparation fee H&R Block charged retail customers...

The mean tax-return preparation fee H&R Block charged retail customers in 2012 was $183 (The Wall Street Journal, March 7, 2012). Use this price as the population mean and assume t

Production took place, Scenario: To fundraise for middle school camp the ye...

Scenario: To fundraise for middle school camp the year 3 and 4 syndicate designed and produced chocolate treats to sell to the year 1 and 2, and year 5 and 6 students at morning te

Central tendency, Definition of Central Tendency The central tendency o...

Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd