Discussion:
Q1. To find the confidence interval for the true mean of the "price in $000" of all the employees in the bank, should the z-score or t-score be used?if so why?
Q2. Find a 95% and a 99% confidence level for "price in $000" and "age" respectively using all the 80 data given that the population variance of the "price $000" is 25 million and for "age" is 81. Write a brief report on your findings.
Q3. From the 80 data, take any 20 data and find a 95% confidence interval for "price in $000" and "age" respectively. Report on your findings.
| Price($000) |
Age |
| 23.197 |
46 |
| 23.372 |
48 |
| 20.454 |
40 |
| 23.591 |
40 |
| 26.651 |
46 |
| 27.453 |
37 |
| 17.266 |
32 |
| 18.021 |
29 |
| 28.683 |
38 |
| 30.872 |
43 |
| 19.587 |
32 |
| 23.169 |
47 |
| 35.851 |
56 |
| 19.251 |
42 |
| 20.047 |
28 |
| 24.285 |
56 |
| 24.324 |
50 |
| 24.609 |
31 |
| 28.67 |
51 |
| 15.546 |
26 |
| 15.935 |
25 |
| 19.873 |
45 |
| 25.251 |
56 |
| 25.277 |
47 |
| 28.034 |
38 |
| 24.533 |
51 |
| 27.443 |
39 |
| 19.889 |
44 |
| 20.004 |
46 |
| 17.357 |
28 |
| 20.155 |
33 |
| 19.688 |
35 |
| 23.657 |
35 |
| 26.613 |
42 |
| 20.895 |
35 |
| 20.203 |
36 |
| 23.765 |
48 |
| 25.783 |
53 |
| 26.661 |
46 |
| 32.277 |
55 |
| 20.642 |
39 |
| 21.981 |
43 |
| 24.052 |
56 |
| 25.799 |
44 |
| 15.794 |
30 |
| 18.263 |
39 |
| 35.925 |
53 |
| 17.399 |
29 |
| 17.968 |
30 |
| 20.356 |
44 |
| 21.442 |
41 |
| 21.722 |
41 |
| 19.331 |
35 |
| 22.817 |
51 |
| 19.766 |
44 |
| 20.633 |
51 |
| 20.962 |
49 |
| 22.845 |
41 |
| 26.285 |
44 |
| 27.896 |
37 |
| 29.076 |
42 |
| 32.492 |
51 |
| 18.89 |
31 |
| 21.74 |
39 |
| 22.374 |
53 |
| 24.571 |
55 |
| 25.449 |
40 |
| 28.337 |
46 |
| 20.642 |
35 |
| 23.613 |
47 |
| 24.22 |
58 |
| 30.655 |
51 |
| 22.442 |
41 |
| 17.891 |
33 |
| 20.818 |
46 |
| 26.237 |
47 |
| 20.445 |
34 |
| 21.556 |
43 |
| 21.639 |
37 |
| 24.296 |
47 |