You correctly solved almost all the problems and fairly complete and ?detailed steps are provided to explain how to solve each.? Your ?explanatio
You correctly solved almost all the problems and fairly complete and detailed steps are provided to explain how to solve each. Your explanations demonstrate a proficient understanding of most of the statistical concepts and correct terminology is used throughout.
Make sure that you are showing how you find the criical values used in each confidence interval. Using Excel is the easiest and most straight-forward, but if you are using a table or an outside source make sure it is cited.
All of your calculations on the confidence intervals are good, just make sure you are fully describing the steps you took in finding each in the Word document.
Your work on #5 is incorrect. There is a specific formula to be applied that will use the information given in the problem to find the minimum sample size necessary.
Blank form is below and the answers I had. I just need the right answers inserted in the areas that are wrong.
Sheet1
| Job Title | Salary | sourw.bls.gov/ | ||||||||
| Accountants and Auditors | 63,910 | At 95% Confidence I | At 99% Confidence interval | |||||||
| Actuaries | 84,190 | Mean | $62,306.13 | Mean | $62,306.13 | |||||
| Administrative Law Judges, Adjudicators, and Hearing Officers | 117,110 | Standard Deviation | 19149.21 | Standard Deviation | 19149.2138556592 | |||||
| Administrative Services Managers | 94,450 | Sample Size | 364.00 | Sample Size | 364 | |||||
| Adult Basic and Secondary Education and Literacy Teachers and Instructors | 43,500 | Confidence coff | 1.96 | Confidence coff | 2.58 | |||||
| Advertising and Promotions Managers | 75,710 | Margin of Error | $1,967.24 | Margin of Error | $ 2,589.52 | |||||
| Advertising Sales Agents | 46,100 | Upper Bound | $64,273.36 | Upper Bound | $ 64,895.65 | |||||
| Aerospace Engineering and Operations Technicians | 59,800 | Lower Bound | $60,338.89 | Lower Bound | $ 59,716.60 | |||||
| Aerospace Engineers | 104,730 | Maximum | $119,850.00 | Maximum | ||||||
| Agents and Business Managers of Artists, Performers, and Athletes | 77,690 | Minimum | $40,170.00 | Minimum | ||||||
| Agricultural and Food Science Technicians | 44,470 | Range | $79,680.00 | Range | ||||||
| Agricultural Inspectors | 43,470 | |||||||||
| Agricultural Sciences Teachers, Postsecondary | 92,010 | |||||||||
| Air Traffic Controllers | 94,030 | |||||||||
| Aircraft Cargo Handling Supervisors | 44,890 | |||||||||
| Aircraft Structure, Surfaces, Rigging, and Systems Assemblers | 42,410 | |||||||||
| Airfield Operations Specialists | 52,740 | |||||||||
| Airline Pilots, Copilots, and Flight Engineers | 98,480 | |||||||||
| Anthropologists and Archeologists | 43,970 | |||||||||
| Appraisers and Assessors of Real Estate | 50,150 | |||||||||
| Arbitrators, Mediators, and Conciliators | 56,700 | |||||||||
| Architects, Except Landscape and Naval | 75,440 | |||||||||
| Architectural and Civil Drafters | 46,470 | |||||||||
| Architecture and Engineering Occupations | 79,910 | |||||||||
| Architecture Teachers, Postsecondary | 79,040 | |||||||||
| Archivists | 60,560 | |||||||||
| Art Directors | 76,280 | |||||||||
| Art, Drama, and Music Teachers, Postsecondary | 57,210 | |||||||||
| Athletic Trainers | 42,330 | |||||||||
| Atmospheric and Space Scientists | 84,390 | |||||||||
| Atmospheric, Earth, Marine, and Space Sciences Teachers, Postsecondary | 92,630 | |||||||||
| Audiologists | 53,830 | |||||||||
| Avionics Technicians | 56,440 | |||||||||
| Biomedical Engineers | 85,810 | |||||||||
| Boilermakers | 55,870 | |||||||||
| Broadcast News Analysts | 84,830 | |||||||||
| Brokerage Clerks | 43,690 | |||||||||
| Budget Analysts | 73,650 | |||||||||
| Business and Financial Operations Occupations | 66,890 | |||||||||
| Business Operations Specialists, All Other | 77,280 | |||||||||
| Business Teachers, Postsecondary | 78,240 | |||||||||
| Buyers and Purchasing Agents, Farm Products | 63,490 | |||||||||
| Camera and Photographic Equipment Repairers | 41,910 | |||||||||
| Captains, Mates, and Pilots of Water Vessels | 69,080 | |||||||||
| Cardiovascular Technologists and Technicians | 44,690 | |||||||||
| Career/Technical Education Teachers, Middle School | 53,190 | |||||||||
| Career/Technical Education Teachers, Secondary School | 53,480 | |||||||||
| Cargo and Freight Agents | 45,610 | |||||||||
| Cartographers and Photogrammetrists | 54,170 | |||||||||
| Chefs and Head Cooks | 45,090 | |||||||||
| Chemical Engineers | 92,420 | |||||||||
| Chemical Equipment Operators and Tenders | 52,430 | |||||||||
| Chemical Plant and System Operators | 52,710 | |||||||||
| Chemical Technicians | 43,370 | |||||||||
| Chemistry Teachers, Postsecondary | 71,100 | |||||||||
| Chemists | 70,740 | |||||||||
| Child, Family, and School Social Workers | 40,580 | |||||||||
| Chiropractors | 80,690 | |||||||||
| Civil Engineers | 71,890 | |||||||||
| Claims Adjusters, Examiners, and Investigators | 58,870 | |||||||||
| Clinical, Counseling, and School Psychologists | 85,800 | |||||||||
| Coil Winders, Tapers, and Finishers | 48,260 | |||||||||
| Commercial and Industrial Designers | 48,120 | |||||||||
| Commercial Pilots | 83,940 | |||||||||
| Communications Equipment Operators, All Other | 40,600 | |||||||||
| Communications Teachers, Postsecondary | 64,250 | |||||||||
| Community and Social Service Occupations | 41,400 | |||||||||
| Community Health Workers | 42,490 | |||||||||
| Compensation and Benefits Managers | 87,210 | |||||||||
| Compensation, Benefits, and Job Analysis Specialists | 56,600 | |||||||||
| Compliance Officers | 62,600 | |||||||||
| Computer and Information Research Scientists | 103,900 | |||||||||
| Computer and Information Systems Managers | 119,170 | |||||||||
| Computer and Mathematical Occupations | 73,780 | |||||||||
| Computer Hardware Engineers | 99,980 | |||||||||
| Computer Network Architects | 88,400 | |||||||||
| Computer Network Support Specialists | 55,990 | |||||||||
| Computer Occupations, All Other | 83,170 | |||||||||
| Computer Programmers | 80,490 | |||||||||
| Computer Science Teachers, Postsecondary | 91,360 | |||||||||
| Computer Systems Analysts | 79,200 | |||||||||
| Computer User Support Specialists | 45,150 | |||||||||
| Conservation Scientists | 71,400 | |||||||||
| Construction and Building Inspectors | 49,630 | |||||||||
| Construction Managers | 89,680 | |||||||||
| Continuous Mining Machine Operators | 42,760 | |||||||||
| Control and Valve Installers and Repairers, Except Mechanical Door | 41,050 | |||||||||
| Conveyor Operators and Tenders | 40,400 | |||||||||
| Cost Estimators | 56,980 | |||||||||
| Crane and Tower Operators | 43,910 | |||||||||
| Credit Analysts | 50,290 | |||||||||
| Credit Counselors | 43,360 | |||||||||
| Criminal Justice and Law Enforcement Teachers, Postsecondary | 57,230 | |||||||||
| Curators | 48,470 | |||||||||
| Database Administrators | 70,120 | |||||||||
| Dental Hygienists | 46,530 | |||||||||
| Derrick Operators, Oil and Gas | 44,610 | |||||||||
| Detectives and Criminal Investigators | 57,820 | |||||||||
| Diagnostic Medical Sonographers | 47,760 | |||||||||
| Dietitians and Nutritionists | 46,720 | |||||||||
| Directors, Religious Activities and Education | 41,590 | |||||||||
| Drafters, All Other | 48,090 | |||||||||
| Economics Teachers, Postsecondary | 96,290 | |||||||||
| Economists | 104,280 | |||||||||
| Editors | 46,760 | |||||||||
| Education Administrators, All Other | 81,870 | |||||||||
| Education Administrators, Elementary and Secondary School | 77,880 | |||||||||
| Education Administrators, Postsecondary | 95,040 | |||||||||
| Education Administrators, Preschool and Childcare Center/Program | 61,290 | |||||||||
| Education Teachers, Postsecondary | 57,390 | |||||||||
| Education, Training, and Library Occupations | 45,000 | |||||||||
| Educational, Guidance, School, and Vocational Counselors | 50,820 | |||||||||
| Electric Motor, Power Tool, and Related Repairers | 41,380 | |||||||||
| Electrical and Electronics Drafters | 61,360 | |||||||||
| Electrical and Electronics Engineering Technicians | 56,160 | |||||||||
| Electrical and Electronics Installers and Repairers, Transportation Equipment | 52,450 | |||||||||
| Electrical and Electronics Repairers, Commercial and Industrial Equipment | 52,650 | |||||||||
| Electrical and Electronics Repairers, Powerhouse, Substation, and Relay | 63,870 | |||||||||
| Electrical Engineers | 91,040 | |||||||||
| Electrical Power-Line Installers and Repairers | 59,730 | |||||||||
| Electricians | 43,200 | |||||||||
| Electro-Mechanical Technicians | 49,150 | |||||||||
| Electronics Engineers, Except Computer | 100,310 | |||||||||
| Elementary School Teachers, Except Special Education | 48,970 | |||||||||
| Elevator Installers and Repairers | 67,930 | |||||||||
| Embalmers | 46,100 | |||||||||
| Emergency Management Directors | 67,970 | |||||||||
| Engineering Technicians, Except Drafters, All Other | 62,320 | |||||||||
| English Language and Literature Teachers, Postsecondary | 52,330 | |||||||||
| Environmental Engineering Technicians | 48,520 | |||||||||
| Environmental Engineers | 69,970 | |||||||||
| Environmental Science and Protection Technicians, Including Health | 42,510 | |||||||||
| Environmental Science Teachers, Postsecondary | 78,700 | |||||||||
| Environmental Scientists and Specialists, Including Health | 58,640 | |||||||||
| Epidemiologists | 59,130 | |||||||||
| Executive Secretaries and Executive Administrative Assistants | 52,530 | |||||||||
| Exercise Physiologists | 43,150 | |||||||||
| Explosives Workers, Ordnance Handling Experts, and Blasters | 49,580 | |||||||||
| Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders | 41,190 | |||||||||
| Farm and Home Management Advisors | 49,430 | |||||||||
| Film and Video Editors | 43,940 | |||||||||
| Financial Analysts | 93,970 | |||||||||
| Financial Clerks, All Other | 42,830 | |||||||||
| Financial Examiners | 78,040 | |||||||||
| Financial Managers | 116,110 | |||||||||
| Financial Specialists, All Other | 67,910 | |||||||||
| Fire Inspectors and Investigators | 47,100 | |||||||||
| Firefighters | 40,590 | |||||||||
| First-Line Supervisors of Construction Trades and Extraction Workers | 55,990 | |||||||||
| First-Line Supervisors of Correctional Officers | 53,470 | |||||||||
| First-Line Supervisors of Farming, Fishing, and Forestry Workers | 46,170 | |||||||||
| First-Line Supervisors of Fire Fighting and Prevention Workers | 57,160 | |||||||||
| First-Line Supervisors of Helpers, Laborers, and Material Movers, Hand | 44,310 | |||||||||
| First-Line Supervisors of Landscaping, Lawn Service, and Groundskeeping Workers | 40,300 | |||||||||
| First-Line Supervisors of Mechanics, Installers, and Repairers | 59,010 | |||||||||
| First-Line Supervisors of Non-Retail Sales Workers | 74,600 | |||||||||
| First-Line Supervisors of Office and Administrative Support Workers | 49,740 | |||||||||
| First-Line Supervisors of Police and Detectives | 62,800 | |||||||||
| First-Line Supervisors of Production and Operating Workers | 55,630 | |||||||||
| First-Line Supervisors of Protective Service Workers, All Other | 44,570 | |||||||||
| First-Line Supervisors of Transportation and Material-Moving Machine and Vehicle Operators | 52,950 | |||||||||
| Fish and Game Wardens | 46,110 | |||||||||
| Food Service Managers | 59,820 | |||||||||
| Foreign Language and Literature Teachers, Postsecondary | 55,340 | |||||||||
| Forensic Science Technicians | 41,700 | |||||||||
| Forest and Conservation Technicians | 43,210 | |||||||||
| Foresters | 56,020 | |||||||||
| Forestry and Conservation Science Teachers, Postsecondary | 90,080 | |||||||||
| Fundraisers | 51,930 | |||||||||
| Funeral Service Managers | 53,210 | |||||||||
| Gaming Supervisors | 43,260 | |||||||||
| Gas Compressor and Gas Pumping Station Operators | 56,220 | |||||||||
| Gas Plant Operators | 61,780 | |||||||||
| General and Operations Managers | 119,850 | |||||||||
| Geography Teachers, Postsecondary | 67,430 | |||||||||
| Geological and Petroleum Technicians | 58,700 | |||||||||
| Geoscientists, Except Hydrologists and Geographers | 71,260 | |||||||||
| Health and Safety Engineers, Except Mining Safety Engineers and Inspectors | 88,670 | |||||||||
| Health Diagnosing and Treating Practitioners, All Other | 56,990 | |||||||||
| Health Educators | 44,920 | |||||||||
| Health Specialties Teachers, Postsecondary | 108,160 | |||||||||
| Health Technologists and Technicians, All Other | 43,140 | |||||||||
| Healthcare Practitioners and Technical Occupations | 63,080 | |||||||||
| Healthcare Social Workers | 44,080 | |||||||||
| Hearing Aid Specialists | 42,170 | |||||||||
| Historians | 62,210 | |||||||||
| History Teachers, Postsecondary | 56,050 | |||||||||
| Hoist and Winch Operators | 54,330 | |||||||||
| Home Economics Teachers, Postsecondary | 71,420 | |||||||||
| Human Resources Managers | 93,630 | |||||||||
| Human Resources Specialists | 58,160 | |||||||||
| Industrial Engineering Technicians | 57,510 | |||||||||
| Industrial Engineers | 81,330 | |||||||||
| Industrial Machinery Mechanics | 48,790 | |||||||||
| Industrial Production Managers | 93,500 | |||||||||
| Information and Record Clerks, All Other | 41,230 | |||||||||
| Information Security Analysts | 78,810 | |||||||||
| Installation, Maintenance, and Repair Occupations | 42,340 | |||||||||
| Instructional Coordinators | 65,060 | |||||||||
| Insurance Appraisers, Auto Damage | 75,530 | |||||||||
| Insurance Sales Agents | 54,050 | |||||||||
| Insurance Underwriters | 52,330 | |||||||||
| Interior Designers | 46,540 | |||||||||
| Judges, Magistrate Judges, and Magistrates | 58,140 | |||||||||
| Kindergarten Teachers, Except Special Education | 47,990 | |||||||||
| Labor Relations Specialists | 50,100 | |||||||||
| Landscape Architects | 72,760 | |||||||||
| Lawyers | 106,790 | |||||||||
| Layout Workers, Metal and Plastic | 47,290 | |||||||||
| Legal Occupations | 81,140 | |||||||||
| Legal Support Workers, All Other | 51,570 | |||||||||
| Librarians | 52,340 | |||||||||
| Library Science Teachers, Postsecondary | 60,360 | |||||||||
| Life Scientists, All Other | 55,510 | |||||||||
| Life, Physical, and Social Science Occupations | 58,420 | |||||||||
| Loading Machine Operators, Underground Mining | 41,270 | |||||||||
| Loan Officers | 67,070 | |||||||||
| Locomotive Engineers | 55,900 | |||||||||
| Logging Workers, All Other | 41,940 | |||||||||
| Logisticians | 81,280 | |||||||||
| Magnetic Resonance Imaging Technologists | 55,430 | |||||||||
| Management Analysts | 90,310 | |||||||||
| Managers, All Other | 94,950 | |||||||||
| Marine Engineers and Naval Architects | 57,230 | |||||||||
| Market Research Analysts and Marketing Specialists | 58,340 | |||||||||
| Marketing Managers | 111,320 | |||||||||
| Marriage and Family Therapists | 43,780 | |||||||||
| Materials Engineers | 95,030 | |||||||||
| Mathematical Science Teachers, Postsecondary | 62,740 | |||||||||
| Mechanical Drafters | 52,840 | |||||||||
| Mechanical Engineering Technicians | 51,900 | |||||||||
| Mechanical Engineers | 83,370 | |||||||||
| Media and Communication Equipment Workers, All Other | 66,370 | |||||||||
| Medical and Clinical Laboratory Technologists | 52,900 | |||||||||
| Medical and Health Services Managers | 93,750 | |||||||||
| Medical Equipment Repairers | 44,240 | |||||||||
| Meeting, Convention, and Event Planners | 45,020 | |||||||||
| Mental Health Counselors | 42,720 | |||||||||
| Metal-Refining Furnace Operators and Tenders | 44,330 | |||||||||
| Middle School Teachers, Except Special and Career/Technical Education | 48,830 | |||||||||
| Millwrights | 43,300 | |||||||||
| Mine Cutting and Channeling Machine Operators | 46,410 | |||||||||
| Mine Shuttle Car Operators | 53,150 | |||||||||
| Mining and Geological Engineers, Including Mining Safety Engineers | 81,970 | |||||||||
| Mining Machine Operators, All Other | 45,660 | |||||||||
| Mixing and Blending Machine Setters, Operators, and Tenders | 40,740 | |||||||||
| Mobile Heavy Equipment Mechanics, Except Engines | 43,340 | |||||||||
| Model Makers, Metal and Plastic | 41,780 | |||||||||
| Morticians, Undertakers, and Funeral Directors | 40,170 | |||||||||
| Multimedia Artists and Animators | 57,700 | |||||||||
| Music Directors and Composers | 48,190 | |||||||||
| Natural Sciences Managers | 113,650 | |||||||||
| Network and Computer Systems Administrators | 68,990 | |||||||||
| Nuclear Engineers | 110,620 | |||||||||
| Nuclear Medicine Technologists | 55,820 | |||||||||
| Nuclear Technicians | 59,630 | |||||||||
| Nurse Practitioners | 88,320 | |||||||||
| Nursing Instructors and Teachers, Postsecondary | 66,660 | |||||||||
| Occupational Health and Safety Specialists | 66,150 | |||||||||
| Occupational Health and Safety Technicians | 49,620 | |||||||||
| Occupational Therapists | 73,260 | |||||||||
| Occupational Therapy Assistants | 55,190 | |||||||||
| Operations Research Analysts | 87,680 | |||||||||
| Optometrists | 96,210 | |||||||||
| Orthotists and Prosthetists | 62,630 | |||||||||
| Painters, Transportation Equipment | 41,180 | |||||||||
| Paper Goods Machine Setters, Operators, and Tenders | 41,360 | |||||||||
| Paralegals and Legal Assistants | 45,510 | |||||||||
| Patternmakers, Metal and Plastic | 40,310 | |||||||||
| Personal Financial Advisors | 101,700 | |||||||||
| Petroleum Pump System Operators, Refinery Operators, and Gaugers | 54,140 | |||||||||
| Pharmacists | 119,020 | |||||||||
| Philosophy and Religion Teachers, Postsecondary | 61,760 | |||||||||
| Physical Therapist Assistants | 53,710 | |||||||||
| Physical Therapists | 83,460 | |||||||||
| Physician Assistants | 88,680 | |||||||||
| Physicists | 108,740 | |||||||||
| Physics Teachers, Postsecondary | 78,630 | |||||||||
| Plant and System Operators, All Other | 67,440 | |||||||||
| Plumbers, Pipefitters, and Steamfitters | 40,170 | |||||||||
| Podiatrists | 112,230 | |||||||||
| Police and Sheriff's Patrol Officers | 41,040 | |||||||||
| Political Science Teachers, Postsecondary | 66,490 | |||||||||
| Postal Service Clerks | 45,400 | |||||||||
| Postal Service Mail Carriers | 49,350 | |||||||||
| Postal Service Mail Sorters, Processors, and Processing Machine Operators | 48,360 | |||||||||
| Postmasters and Mail Superintendents | 68,750 | |||||||||
| Power Distributors and Dispatchers | 70,530 | |||||||||
| Power Plant Operators | 60,720 | |||||||||
| Precision Instrument and Equipment Repairers, All Other | 46,990 | |||||||||
| Private Detectives and Investigators | 57,620 | |||||||||
| Probation Officers and Correctional Treatment Specialists | 43,000 | |||||||||
| Producers and Directors | 50,920 | |||||||||
| Production, Planning, and Expediting Clerks | 46,020 | |||||||||
| Property, Real Estate, and Community Association Managers | 67,390 | |||||||||
| Psychologists, All Other | 86,080 | |||||||||
| Psychology Teachers, Postsecondary | 68,910 | |||||||||
| Public Relations and Fundraising Managers | 89,080 | |||||||||
| Public Relations Specialists | 47,070 | |||||||||
| Pump Operators, Except Wellhead Pumpers | 41,850 | |||||||||
| Purchasing Agents, Except Wholesale, Retail, and Farm Products | 63,950 | |||||||||
| Purchasing Managers | 104,300 | |||||||||
| Radiation Therapists | 68,470 | |||||||||
| Radio, Cellular, and Tower Equipment Installers and Repairers | 45,510 | |||||||||
| Radiologic Technologists | 45,460 | |||||||||
| Rail Yard Engineers, Dinkey Operators, and Hostlers | 49,580 | |||||||||
| Railroad Conductors and Yardmasters | 52,200 | |||||||||
| Rail-Track Laying and Maintenance Equipment Operators | 46,320 | |||||||||
| Real Estate Brokers | 70,520 | |||||||||
| Real Estate Sales Agents | 56,600 | |||||||||
| Recreation and Fitness Studies Teachers, Postsecondary | 61,300 | |||||||||
| Recreational Vehicle Service Technicians | 42,230 | |||||||||
| Refractory Materials Repairers, Except Brickmasons | 47,440 | |||||||||
| Registered Nurses | 55,870 | |||||||||
| Reinforcing Iron and Rebar Workers | 40,590 | |||||||||
| Respiratory Therapists | 46,200 | |||||||||
| Rolling Machine Setters, Operators, and Tenders, Metal and Plastic | 41,290 | |||||||||
| Roof Bolters, Mining | 54,150 | |||||||||
| Rotary Drill Operators, Oil and Gas | 41,470 | |||||||||
| Sales Engineers | 99,260 | |||||||||
| Sales Managers | 111,910 | |||||||||
| Sales Representatives, Services, All Other | 48,230 | |||||||||
| Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products | 63,400 | |||||||||
| Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products | 79,450 | |||||||||
| Secondary School Teachers, Except Special and Career/Technical Education | 50,170 | |||||||||
| Securities, Commodities, and Financial Services Sales Agents | 82,560 | |||||||||
| Service Unit Operators, Oil, Gas, and Mining | 48,010 | |||||||||
| Set and Exhibit Designers | 54,620 | |||||||||
| Ship Engineers | 69,300 | |||||||||
| Signal and Track Switch Repairers | 52,340 | |||||||||
| Social and Community Service Managers | 61,440 | |||||||||
| Social Scientists and Related Workers, All Other | 80,010 | |||||||||
| Social Work Teachers, Postsecondary | 67,040 | |||||||||
| Social Workers, All Other | 60,040 | |||||||||
| Sociology Teachers, Postsecondary | 59,760 | |||||||||
| Software Developers, Applications | 91,070 | |||||||||
| Software Developers, Systems Software | 96,290 | |||||||||
| Soil and Plant Scientists | 60,470 | |||||||||
| Sound Engineering Technicians | 41,870 | |||||||||
| Special Education Teachers, All Other | 55,310 | |||||||||
| Special Education Teachers, Kindergarten and Elementary School | 50,810 | |||||||||
| Special Education Teachers, Middle School | 52,200 | |||||||||
| Special Education Teachers, Secondary School | 52,390 | |||||||||
| Speech-Language Pathologists | 65,140 | |||||||||
| Stationary Engineers and Boiler Operators | 46,730 | |||||||||
| Statisticians | 58,210 | |||||||||
| Surveyors | 51,410 | |||||||||
| Tank Car, Truck, and Ship Loaders | 48,810 | |||||||||
| Tax Examiners and Collectors, and Revenue Agents | 53,860 | |||||||||
| Technical Writers | 59,590 | |||||||||
| Telecommunications Equipment Installers and Repairers, Except Line Installers | 50,940 | |||||||||
| Tire Builders | 42,500 | |||||||||
| Tool and Die Makers | 46,750 | |||||||||
| Training and Development Managers | 87,630 | |||||||||
| Training and Development Specialists | 57,180 | |||||||||
| Transportation Inspectors | 65,650 | |||||||||
| Transportation, Storage, and Distribution Managers | 86,090 | |||||||||
| Urban and Regional Planners | 58,590 | |||||||||
| Veterinarians | 79,820 | |||||||||
| Water and Wastewater Treatment Plant and System Operators | 42,750 | |||||||||
| Web Developers | 50,610 | |||||||||
| Wholesale and Retail Buyers, Except Farm Products | 55,700 | |||||||||
| Writers and Authors | 54,250 | |||||||||
| Zoologists and Wildlife Biologists | 59,000 |
Sheet2
Sheet3
,
Jeff Rover
Inferential Statistics and Analytics
Rasmussen College
11/20/17
Deliverable 03 Worksheet
1. Discuss the importance of constructing confidence intervals for the population mean by answering these questions.
· What are confidence intervals?
· What is a point estimate?
· What is the best point estimate for the population mean? Explain.
· Why do we need confidence intervals?
Answer and Explanation:
Enter your step-by-step answer and explanations here.
· Confidence intervals refers to a measure of probability that a given population parameter will fall between the two set values. It expresses both uncertainty and precision of a sampling method used by giving a range of values. It consist of confidence level, margin of error and a statistic.
· Point estimate is a single value used as static, which is to estimate a parameter in a given population. For example a sample mean of a population, standard deviation and sample variance.
· Sample means is the best point estimate for population means.
· Confidence intervals are important in statistics as they help in explaining uncertainty that is associated with any sampling method used. Usually, there is an error associated with sampling method used. This marginal error is expressed by use of confidence intervals.
2. Using the data from the Excel workbook, construct a 95% confidence interval for the population mean. Assume that your data is normally distributed and σ is unknown. Include a statement that correctly interprets the confidence interval in context of the scenario.
Hint: Use the sample mean and sample standard deviation from Deliverable 1.
Answer and Explanation:
Enter your step-by-step answer and explanations here.
· At 95% confidence level, the coefficient is 1.96.
· Confidence interval is therefore calculated as;
Sample mean coefficient X (sample standard deviation/square roof of sample size.
From the calculation, the salary upper bound is $64,273 while the lower bound is $60,338. It means we are 95% confident that the mean salary of people working in Minnesota is between $60,338- $64,273.
3. Using the data from the Excel workbook, construct a 99% confidence interval for the population mean. Assume that your data is normally distributed and σ is unknown. Include a statement that correctly interprets the confidence interval in context of the scenario.
Hint: Use the sample mean and sample standard deviation from Deliverable 1.
Answer and Explanation:
Enter your step-by-step answer and explanations here
We are 99% confident that the mean salary for workers in Minnesota is between $64,896 and $59,717.
4. Compare your answers for (2) and (3). You notice that the 99% confidence interval is wider. What is the advantage of using a wider confidence interval? Why would you not always use the 99% confidence interval? Explain with an example.
Answer and Explanation:
Enter your step-by-step answer and explanations here.
At 95% confidence interval is between $64,273 and $60,338 while at 99%, confidence interval is $64,896 and $59,717. This show that at 99%, confidence interval range is $5,179. Compared to 95%, confidence interval range is $3,935. This confirms that as we increase confidence level, confidence interval widens.
At 99% confidence interval is not the best. Wider interval does not give a better estimate.
5. We want to estimate the mean salary in Minnesota. How many jobs must be randomly selected for their respective mean salaries if we want 95% confidence that the sample mean is within $126 of the population mean and σ = $1150.
Is the current sample size of the data set in our excel document of 364 large enough? Explain.
Answer and Explanation:
Enter your step-by-step answer and explanations here.
At 95% confidence interval is $64,273
Sample mean should be $126+$62306=$62,422
Therefore
64,273=62,422+196 X 19149/n^0.5
n^0.5=20.2766
Therefore the five jobs can be randomly selected
The sample size of 364 is large enough for our analysis. It allow is to use Central Limit Theorem
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