| Country Burkina Faso Ethiopia Myanmar Ghana Kenya India Nicaragua Tunisia Guatemala Algeria Ecuador Peru Colombia Lebanon China Brazil Mexico Turkey Argentina Venezuela, RB Greece Portugal Malta Spain Italy Israel Japan France New Zealand United Arab Emirates Belgium United Kingdom Canada Germany Finland Austria Netherlands Ireland Australia Sweden United States Denmark Iceland Luxembourg Switzerland Norway | Average Income 640 660 1190 1380 1380 1680 2050 3690 3790 4270 5820 5950 6320 7680 8260 8840 9040 11180 11960 12500 18960 19850 24140 27520 31590 36190 38000 38950 39070 40480 41860 42390 43660 43660 44730 45230 46310 52560 54420 54630 56180 56730 56990 76660 81240 82330 | |
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In 2016, the global average annual income worldwide wasestimated to be $10,850[1]. (This includes all countries of theworld, not just the countries in the data table.)
[1] Source: Organization for Economic Co-operation andDevelopment (OECD).
A) construct an 80%, 90%, 95%, 98%, 99% confidence interval toestimate the proportion of countries in the world with an averageincome greater than the global average. Calculate theMargin of Error for each confidenceinterval.
B) As the confidence level increases, what happens to the widthof the interval? (Note: the width of the interval is the differencebetween the upper and lower limits.)
C) As the confidence level increases, what happens to the marginof error?