Chapter 08, Section 8.3, Problem 041 Almost all employees working for financial

Question

Chapter 08, Section 8.3, Problem 041 Almost all employees working for financial companies in New York City receive large bonuses at the end of the year. A sample of 63 employees selected from financial companies in New York City showed that they received an average bonus of $59,000 last year with a standard deviation of $18,000. Construct a 98% confidence interval for the average bonus that all employees working for financial companies in New York City received last year Round your answers to cents. to $

Explanation / Answer

As per the Chegg policy, we are advised to do one question at a time so i am attempting the 1st one.

Problem 041:

The statistical software output for this problem is:

One sample T summary confidence interval:
: Mean of population

98% confidence interval results:

Hence,

98% confidence interval will be:

$ 53584.50 to $ 64425.50

Mean Sample Mean Std. Err. DF L. Limit U. Limit 59000 2267.7868 62 53584.501 64415.499

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.