Answer: $69811
Step-by-step explanation:
Given : A survey organization, as part of the United States Census Bureau, conducts a yearly census similar to the one taken every ten years, but with a smaller percentage of participants.
One of these surveys estimates with 90% confidence that the mean household income in the U.S. falls between $69,702 and $69,920. (1)
We know that the confidence interval is given by :-
Point estimate of mean ± Margin of error
From (1) , we have
Point estimate for mean -Margin of error = $69,702 (2)
Point estimate for mean +Margin of error = $69,920 (3)
Add (2) and (3), we get
2 (Point estimate for mean) = $139622
Divide both sides by 2, we get
Point estimate for mean=$ 69811
Therefore , the point estimate for mean U.S. household income. = $ 69811
