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Mathematics, 23.06.2020 19:01 crimsonkiss

Playbill magazine reported that the mean annual household income of its readers is $119,155 (Playbill, January 2006). Assume this estimate of the mean annual household in- come is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be a = $30,000. a. Develop a 90% confidence interval estimate of the population mean. b. Develop a 95% confidence interval estimate of the population mean. c. Develop a 99% confidence interval estimate of the population mean. d. Discuss what happens to the width of the confidence interval as the confidence level is increased. Does this result seem reasonable? Explain.

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