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Author Question: The entities on which data are collected are _____. a. elements b. populations c. sets d. ... (Read 56 times)

NClaborn

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on: Aug 1, 2018
The entities on which data are collected are _____.
 a. elements
  b. populations
  c. sets
  d. samples

Question 2

A survey of 100 businesses revealed that the mean after-tax profit was 80,000 . Assume the population standard deviation is 15,000:
 a. Determine the 95 confidence interval estimate of the mean after-tax profit for all businesses.
  b. Explain why you can use the confidence interval formula here, even though the population is not necessarily normal.


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babybsemail

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Reply #1 on: Aug 1, 2018
Answer to Question 1

a

Answer to Question 2

a. LCL = 77,060 and UCL = 82,940.
b. By the Central Limit Theorem, as long as n is large (and 100 is considered large), the sample means have an approximate normal distribution.


NClaborn

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Reply #2 on: Aug 1, 2018
TY


babybsemail

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Reply #3 on: Aug 1, 2018
You're welcome


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