8.4 The U.S. Census Bureau reports the estimated mean U.S. married-couple family

Question

8.4 The U.S. Census Bureau reports the estimated mean U.S. married-couple family income is $90,835 + $101. They describe the margin of error as providing a 90% probability that the interval defined by the estimate minus the margin of error and the estimate plus the margin of error (the lower and upper confidence bounds) contains the true value. SOURCE: U.S. Census Bureau, 2005-2007 American Community Survey a. What is the population and variable of interest? b. What parameter is being estimated? What is its estimated value? c. How is the margin of error related to the maximum error of estimate? d. What value is being reported as the margin of error? e. What level of confidence is being reported? f. Find the confidence interval and state exactly what it represents.

Explanation / Answer

8.4 (a) Population is Married couple in US and variable of interest here is "Family Income of US married couple".

(b) Here parameter is estimated is "Average Monthly family income of US married couple". It is estimated value is $ 90,835.

(c) Here margin of error is a the error associted with given confidence interval and maximum error of estimate where we are 100% confident.

(d) Here margin of error = $ 101

(e) Here the level of confidence reported = 90%

(f) Here the confidence interval = (90835 - 101, 90835 + 101) = ($ 90734, $ 90936)

Here the confidence interval presents that we are 90% confident that for the given sample size the mean US married couple income is in between the two given values.

Related Questions

Navigate

• Browse (All)
• Browse 8
• Subjects

---

---

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