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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.
limitations of time series analysis
This probability rule determined by the research of the two mathematicians Bienayme' and Chebyshev, explains the variability of data about its mean when the distribution of the dat
Range Official Exports Target 2000-2001 Product ($ million) Plantation 500 Agriculture and Alli
In 120 tosses of a coin, 45 heads and 75 tails are observed. Is this a balanced coin? Use a=0.05. (Follow the basic steps of hypothesis testing)
Mode Mode is the value of the observation which occurs with the greatest frequency and thus it is the most fashionable value, Mode has been derived from French word La m
WHAT YOU MEAN BY UTILITY OF MANAGERIALECONOMICS
give me question on mean is the aimplest average to understand and easy to compute
#regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
The median, as the name suggests, is the middle value of a series arranged in any of the orders of magnitude i.e. ascending or descending order. As distinct from the arithmetic
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y
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