What is the average income of the whole neighborhood


Discuss the below:

Q: Jamie collects the following income data (in thousands of dollars) for some of his street neighbors:

19, 21, 22, 17, 23, 19, 22, 24, 18, 21, 26, 20, 23, 23, 20, 21, 25, 20

Given that he cannot reach all his neighbors, he wants to estimate what is the average income of the whole neighborhood using just the data that he collect. He wants to make a statement like this: "With 95% confidence, I can say that the average income for my neighborhood is between __ and __"

 

 

Solution Preview :

Prepared by a verified Expert
Basic Statistics: What is the average income of the whole neighborhood
Reference No:- TGS01897632

Now Priced at $20 (50% Discount)

Recommended (90%)

Rated (4.3/5)