Question

The yearly incomes, in thousands, for 24 random married couples living in a city are given below. Assume the yearly incomes are approximately normally distributed. Use Excel to find the 95% confidence interval for the true mean, in thousands. Round your answers to three decimal places and use increasing order. Yearly Income 59. 015 58. 962 58. 935 58. 989 58. 997 58. 970 59. 000 59. 014 59. 001 59. 003 58. 992 58. 926 59. 032 58. 958 59. 093 58. 955 59. 003 58. 952 59. 057 59. 056 59. 074 59. 128 59. 001 59. 7

Answer 1

The 95% confidence interval for the true mean yearly income of the maried cuples, in thousands, is (58.979, 59.035). We are 95% confident that the true mean yearly income falls within this range.