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April 21, 2014

Homework Help: stats

Posted by taylor quenzler on Thursday, July 26, 2012 at 9:00pm.

3. The mean family income in Arizona is about $64,750 with a standard deviation (for the population) of $59,750. Imagine that you are taking a sample of 200 randomly selected state residents. (a) What is the probability that your sample mean is between $61,000 and $64,750? (b) For this same sample size, what is the probability that the sample mean exceeds $75,000? (c) What income levels would correspond with the 95% confidence limits for this sample? (d) Interpret what these 95% confidence limits tell us

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