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(Solved): 7010 ID: MST.CI.CIM.06.0010b [3 Points) You Are Working For A Government Department And Your Boss, J ...


7010 ID: MST.CI.CIM.06.0010b [3 points) You are working for a government department and your boss, Jane, has asked you to cal
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7010 ID: MST.CI.CIM.06.0010b [3 points) You are working for a government department and your boss, Jane, has asked you to calculate some results on weekly household income across the state, including a 95% confidence Interval for the mean weekly household income that she needs to include in a report. She also says that she is not sure exactly what a 95% confidence interval means and would like you to add an explanation You have been supplied with a sample of weekly income figures for 110 households. The data is presented here: Download the data Weekly household Income ($) 827 1328 2139 1426 1325 1256 1790 967 1344 336 981 2265 1486 1905 1588 1403 2232 2278 1511 1466 828 1589 1285 1696 1892 2072 1473 1021 1943 1458 1150 1962 1376 917 2526 1293 1418 2273 1509 1831 1453 1645 1569 1872 968 1270 1919 1680 1575 1671 2157 1768 1129 1658 1889 1506 1563 1766 1457 1016 1653 2272 268 2372 1444 1503 1534 1457 1629 1568 1198 1691 1650 1659 962 1275 1751 1183 2419 1928 1301 1628 2178 1746 926 2110 2123 1203 2297 1330 1701 1510 1752 2139 1646 1100 2250 1346 1384 1746 2307 1310 1250 1901 1291 1726 1880 951 1431 1473 Histone the standard deviation in weekly household income is 5449 Complete the report to your boss Give your numune wwwers to 2 decimal aces Genti To: Sub February 27, 2000 11:10 AM Jav John Weekly household come results Dow Jone h ouse income A ng a popularion standard deviation in w 209 1690 1692 2072 1473 1021 1943 1458 1150 1962 1376 917 2526 1293 1418 2273 1509 1831 1453 1645 1569 1872 968 1276 1919 1689 1575 1671 2157 1768 1129 1658 1596 1563 1766 1457 1016 1653 2272 268 2372 1444 1503 1534 1487 1629 1568 1198 1691 1650 1659 962 1275 1183 2419 1928 1301 1628 2176 1746 926 2110 2123 1203 2297 1330 1701 1519 1752 2139 1646 1100 2258 1346 1384 1746 2307 1310 1258 1901 1291 1726 1880 951 1431 1473 Historically, the standard deviation in weekly household income is $449 Complete the report to your boss. Give your numeric answers to 2 decimal places Sent: February 27, 2020 11:10 AM To: Jane Johnson Subject: Weekly household income results Dear Jane, Here are the results whered from the collected data: Assuming a population standard deviation in weekly household income of $449, the 95% confidence interval for the mean weekly household income is: sus b) This means that approximately 5% of sample means will be within the interval given above on approximately 95% of days in a given period the stock makes a return within the werval given above the population mean weekly household income is definitely within the interval given above using a process that gives correct results in 95% of cases, the population mean weekly household income is within the interval given above

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