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A study was conducted of recent high school graduates who began full-time jobs rather than going...

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Basic Math

  1. A study was conducted of recent high school graduates who beganfull-time jobs rather than going to college. We wish to find theaverage starting income µ of such workers. A random sample of size60 gave a sample mean of $24,500 with a population standarddeviation of $2350.Round answers to 2 decimal places.
  1. Find the standard error.
  1. Identify the upper and lower z score for a 95% confidenceinterval for µ.
  1. Calculate the upper and lower bounds of the confidenceinterval.

Answer & Explanation Solved by verified expert
4.4 Ratings (593 Votes)
Solution Given thatPoint estimate sample mean 24500Population standard deviation    See Answer
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