From the data given above, the forecast for the year 2005 (in 000s) is ________.
A) 39.60 units
B) 40.72 units
C) 47.34 units
D) 52.67 units
Question 2
A statement in the newspaper attributed to the leader of a local union stated that the average hourly wage for union members in the region is 13.35. He indicated that this number came from a survey of union members.
If an estimate was developed with 95 percent confidence, we can safely conclude that this value is within 95 percent of the true population mean hourly wage. Indicate whether the statement is true or false
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