Business, 18.03.2020 20:16 thompsonhomes1

In a random sample of 651 computer scientists who subscribed to a web-based daily news update, it was found that the average salary was $46,816 with a population standard deviation of $12,557. Calculate a 91 percent confidence interval for the mean salary of computer scientists.

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Answer from: ajayrose

$46816-1.70\frac{12557}{\sqrt{651}}=45979.35$

$46816+1.70\frac{12557}{\sqrt{651}}=47652.65$

So on this case the 91% confidence interval would be given by (45979.35;47652.65)

Explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

$\bar X=46816$ represent the sample mean for the sample

$\mu$ population mean (variable of interest)

$\sigma=12557$ represent the population standard deviation

n=651 represent the sample size

Solution to the problem

The confidence interval for the mean is given by the following formula:

$\bar X \pm z_{\alpha/2}\frac{\sigma}{\sqrt{n}}$ (1)

Since the Confidence is 0.91 or 91%, the value of $\alpha=0.09$ and $\alpha/2 =0.045$ , and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-NORM.INV(0.045,0,1)".And we see that $z_{\alpha/2}=1.70$

Now we have everything in order to replace into formula (1):

$46816-1.70\frac{12557}{\sqrt{651}}=45979.35$

$46816+1.70\frac{12557}{\sqrt{651}}=47652.65$

So on this case the 91% confidence interval would be given by (45979.35;47652.65)

Answer from: Quest

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

mark brainliest!

Answer from: Quest

employers prefer to hire ingenious, resourceful people because ingenious people may be more liable to engage in unethical deportment as they can cerebrate outside of the box

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In a random sample of 651 computer scientists who subscribed to a web-based daily news update, it wa...