Complete the following:
Q1. In a study of the income of U.S factory workers, a random sample of 125 workers shows a sample mean of $29,000. Assume that the population standard deviation is $4,500.
A) Compute the 90%, 95%, and 99% confidence intervals for the unknown population mean.
B) Briefly discuss what happens to the width of the confidence interval estimate as the confidence level increases. Does this seem reasonable?
Q2. In a study of the starting salary of college graduates with degrees in Accounting, a random sample of 28 graduates shows a sample mean of $35,000 and a sample standard deviation of $2,900.
A) Compute and explain a 95% confidence interval estimate of the unknown population mean starting salary for Accounting graduates.
B) What is the essential difference between this problem and problem #1?
Q3. A telephone poll of 700 American adults asked "Where would you rather go in your spare time?" One response, by 250 adults, was "a casino". Compute and explain a 95% confidence interval estimate of the proportion of all American adults who would respond "a casino".