Question

The monthly incomes from a random sample of workers in a factory are shown below

$4,000
$5,000
$7,000
$4,000
$6,000
$6,000
$7,000
$9,000
a. what is the standard error of the mean ?
b. what is the margin of error at 95% confidence?
c. a 95% confidence interval for the mean of the population. Assume the population has a normal distribution

Answer 1

Answer: a. The standard error of the mean is approximately 636.4.

b. The margin of error at 95% confidence is approximately 1246.5.

c. A 95% confidence interval for the mean of the population is approximately $4041.5 to $6534.5.

Explanation:

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