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nikklg [1K]
3 years ago
7

A confidence interval, at the 95% confidence level, will be used to answer the question, "What is the mean annual salary (in US

dollars) of a Tesla car owner?" Data was collected from 36 Tesla owners across the US. The mean annual salary of those 36 Tesla owners was $289000 with a standard deviation of $1342.
Business
1 answer:
Nimfa-mama [501]3 years ago
7 0

Answer:

<em>The answer to the question is given below in the explanation section</em>

Explanation:

<em>From the question  we recall  the following</em>

<em>The mean: this is the  the value at  the center of the confidence interval which represents the quantity.</em>

<em>let Z* denotes when building the confidence level</em>

<em>]The mean = 289000, n = 36, standard deviation= 1342 </em>

<em> Z* for 95% Confidence Interval = 1.96 </em>

<em> The margin of error = 1.96*[1342/√(36)] = 438.39 </em>

<em> The 95% Confidence Interval is given by:</em>

<em> Lower CI = Mean - Margin of error = 289000 - 438.39 = 288561.61 </em>

<em> Upper CI = Mean +  Margin of error = 289000 + 438.39 = 289438.39 </em>

<em>When the sample is decreased to 20 Tesla owners, the confidence  interval widens.</em>

<em />

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2 years ago
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postnew [5]

Answer:

1. By consulting the people who have purchased shoes and groceries recently, calling them or checking out their website for these information.

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