Can someone help me with this stats question using R Studio 2. A researcher want

Question

Can someone help me with this stats question using R Studio

2. A researcher wants to determine how much a data analyst earns per year. Suppose for a random sample of 1519 data analysts, the mean salary is $2.5 million dollar witha standard deviation of $0.45 million dollar. a. What is the continuous random variable in this study? How much a data analyst earns per year b. What is the parameter for this study? All of the data analyst c. What is the statistic for this study? The 1519 data analyst d. Obtain a point estimate for the mean salary of all data analysts The point estimate for population proportion is p= Construct a 99% confidence interval estimate of the mean salary of all data analysts. (Verify that the requirements for constructing a confidence interval for is satisfied). Interpret the confidence interval. e.

Explanation / Answer

a) The amount of money earn by the data analyst per year is a continuous random variable.

b) The parameter for this study are

mean: mu

and standard deviatiom: sigma

c) The statistics for the study is sample mean =2.5

d) The point estimate of population mean =2.5 million dollars.

e) The 99% confidence interval is givenby Using R command:

> n=1519
> Xbar=2.5
> S=0.45
> alpha=0.01
> Z=qnorm(1-alpha/2)
> Z
[1] 2.575829
> SE=S/sqrt(n)
> SE
[1] 0.01154606
> LCL=Xbar-Z*(SE)
> LCL
[1] 2.470259
> UCL=Xbar+Z*(SE)
> UCL
[1] 2.529741
> CI=c(LCL,UCL)
> CI ###The 99% confidence interval
[1] 2.470259 2.529741

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