The monthly incomes from a random sample of workers in a factory are shown below.
a.Compute the standard error of the mean (in dollars).
b.Compute the margin of error (in dollars) at 95% confidence.
c.Compute a 95% confidence interval for the mean of the population. Assume the population has a normal distribution. Give your answer in dollars.

Question

The monthly incomes from a random sample of workers in a factory are shown below.  
a.Compute the standard error of the mean (in dollars).
b.Compute the margin of error (in dollars) at 95% confidence.
c.Compute a 95% confidence interval for the mean of the population. Assume the population has a normal distribution. Give your answer in dollars.

Quizplus · Accepted Answer

The Answer of The monthly incomes from a random sample of workers in a factory are shown below.  
a.Compute the standard error of the mean (in dollars).
b.Compute the margin of error (in dollars) at 95% confidence.
c.Compute a 95% confidence interval for the mean of the population. Assume the population has a normal distribution. Give your answer in dollars.

The Monthly Incomes from a Random Sample of Workers in a Factory