1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sveta [45]
9 months ago
9

A marketing research company needs to estimate the average total compensation of CEOs in the service industry. Data were randoml

y collected from 38 CEOs and the 98% confidence interval was calculated to be ($2,181,260, $5,836,180). The margin error for the confidence interval is
Mathematics
1 answer:
mezya [45]9 months ago
5 0

SOLUTION:

Step 1 :

In this question, we are told that a marketing research company needs to estimate the average total compensation of CEOs in the service industry.

We also have that: Data were randomly collected from 38 CEOs and the 98% confidence interval was calculated to be ($2,181,260, $5,836,180).

Then, we are asked to find the margin error for the confidence interval.

Step 2:

We need to recall that:

\text{Higher Confidence Interval, CI}_{H\text{ = }}X\text{ + }\frac{Z\sigma}{\sqrt[]{n}}\text{Lower Confidence Interval , CI}_{L\text{ }}=\text{ X - }\frac{Z\sigma}{\sqrt[]{n}}

It means that:

\vec{}X\text{ = }\frac{CI_{H\text{ }}+CI_L}{2}\text{Margin of error, }\frac{Z\sigma}{\sqrt[]{n}\text{ }}\text{ = }\frac{CI_{H\text{ - }}CI_L}{2}

where,

CI_H\text{ = }$$5,836,180$\text{ }$$$CI_{L\text{ }}=\text{ }2,181,260

putting the values into the equation for the margin of error, we have that:

\text{Margin of error,}\frac{Z\sigma}{\sqrt[]{n}\text{ }}\text{ = }\frac{5,836,180\text{  - }2,181,260\text{ }}{2}\begin{gathered} =\text{ }\frac{3654920}{2} \\ =1,\text{ 827, 460} \end{gathered}

CONCLUSION:

The margin error for the confidence interval is 1, 827, 460

You might be interested in
Find 8 /10 + 7 /100
Sergio [31]

Answer:

87          

 ——— = 0.87000

 100          

Step-by-step explanation:

6 0
2 years ago
Read 2 more answers
Drag expressions to complete each equation.
Maru [420]

Answer:

see explanation

Step-by-step explanation:

Using the rules of exponents

a^{b} × a^{c} = a^{b+c}

\frac{a^{b} }{a^{c} } = a^{b-c}

a^{c} × b^{c} = (ab)^{c}

7 0
2 years ago
Read 2 more answers
A certain brand of dinnerware set comes in three colors: red, white, and blue. Twenty percent of customers order the red set, 45
denis23 [38]

Answer:

a) 0.20

b) 0.45

c) 0.65

d) Yes

e) Yes

f) Z = X + Y (except when X = 1 and Y = 1)

This is because the successes of X and Y are mutually exclusive events but their failures aren't. X and Y cannot both be 1.

Step-by-step explanation:

Probability of a red set = 20% = 0.20

Probability of a white set = 45% = 0.45

Probability of a blue set = 35% = 0.35

Probability of the single set being a red or white set = 20% + 45% = 65% = 0.65

P(X=1) = 0.20, P(X=0) = 1 - 0.2 = 0.80

P(Y=1) = 0.45, P(Y=0) = 1 - 0.45 = 0.55

P(Z=1) = 0.65, P(Z=0) = 1 - 0.65 = 0.35

a) pX = P(X=1) = 0.20

b) pY = P(Y=1) = 0.45

c) pZ = P(Z=1) = 0.65

d) Since only one order is being considered at a time, it isn't possible to order red & white set in a single set, hence, both X and Y cannot both be successes (equal to 1) at the same time. But they can both be failures (both equal to 0) if a blue set is ordered. The successes of X and Y are mutually exclusive events but their failures aren't

e) Is pZ = pX + pY

pX = 0.2, pY = 0.45, pZ = 0.65

Hence, this statement is correct!

f) Z = X + Y

Let's check all the probabilities

when X = 1 and Y = 1, Z = 1

1 ≠ 1 + 1

when X = 0 and Y = 1, Z = 1

1 = 0 + 1

when X = 1 and Y = 0, Z = 1

1 = 1 + 0

when X = 0 and Y = 0, Z = 0

0 = 0 + 0

Hence, Z = X + Y (except when X = 1 and Y = 1)

This is because the success of X and Y are mutually exclusive events but their failures aren't.

8 0
3 years ago
Subtract 1 + ( - 1 ) - ( - 3 ). Hint: Add the first two numbers, then subtract the -3 from the result of that addition
kykrilka [37]

Answer:

Add 3. Double that. Subtract 4. Cut that in half. Subtract your original number. Your result is 1!

Step-by-step explanation:

I'm guessing, Hope its right.

7 0
3 years ago
71% of Americans wear glasses.
Alex_Xolod [135]

Answer:

29%

Step-by-step explanation:

100%-71%=29%

3 0
3 years ago
Read 2 more answers
Other questions:
  • What is the measure of MOP?
    5·2 answers
  • Fred has a spinner that is split into four equal sections: red, blue, green, and yellow. Fred spun the spinner 688 times. Which
    9·2 answers
  • Help me with maths please
    13·1 answer
  • HELP I have attatched an image i will give extra points for best answer
    8·1 answer
  • A bird was sitting 9 meters from the base of an oak tree and flew 10 meters to reach the top of the tree. How tall is the tree?
    10·1 answer
  • 1/9 (2m - 16) = 1/3 (2m + 4)
    13·1 answer
  • Proportional relationships between x and y help anyone
    12·1 answer
  • Find the measurements
    11·1 answer
  • ————PLEASE HELP————-
    14·1 answer
  • Q: If the following series continues the same pattern. What is the next
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!