The treasurer of a municipality claims that the average net worth of families living in this municipality is P730,000. A random sample of 50 families selected from this area produced a mean net worth of P860,000 with standard deviation of P65,000. Using 1% significance level, can we conclude that the claim is true? Also, find the 99% confidence interval of the true mean.
The treasurer of a municipality claims that the average net worth of families living in this municipality is P730,000. A random sample of 50 families selected from this area produced a mean net worth of P860,000 with standard deviation of P65,000. Using 1% significance level, can we conclude that the claim is true? Also, find the 99% confidence interval of the true mean.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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The treasurer of a municipality claims that the average net worth of families living in this municipality is P730,000. A random sample of 50 families selected from this area produced a mean net worth of P860,000 with standard deviation of P65,000. Using 1% significance level, can we conclude that the claim is true? Also, find the 99% confidence interval of the true mean.
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