What is 5/6mn-7/8mn? Explain how you got it
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Answer:
Step-by-step explanation:
Hello!
The variable of interest is
X: hourly wage of a high school student
X~N(μ;σ²)
X[bar]= $8.25
σ= $0.25
For a 95% CI for the average hourly wage for<u> 1 </u>high school student:
For this exercise you have to consider the sample size n=1
a) The margin of error of the CI is calculated as:
d= * σ
1-α: 0.95 ⇒ α:0.05
1-α/2:0.975
d= 1.96 * 0.25= 0.49
b)
The formula for the interval is
X[bar] ± * σ
[8.25 ± 0.49]
[7.76; 8.74]
With a 95% you'd expect the interval $[7.76; 8.74] to include the average hourly wage of one high school student in Illinois.
c)
Te calculated interval is $ [7.76; 8.74] the value $9.15 does nor fall within that acceptable range.
I hope this helps!