An economist wants to estimate the mean per capita income (in thousands of dollars) for...

90.2K

Verified Solution

Question

Basic Math

image

An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income is found to be $20.7 for a random sample of 1301 people. Assume the population standard deviation is known to be $6. Construct the 98% confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students