# Confidence Interval

Not what you're looking for?

A consulting firm which does consulting jobs on a cost per job basis wants to estimate its average pay per hour. The firm's manager takes a random sample of n=30 jobs and calculates the pay per an hour. The par per an hour values are listed below, rounded to the nearest dollar.

17 23 14 20 68 40 31 19 19 32 13 37 32 28 34

23 29 27 24 27 15 17 28 21 18 24 37 20 22 30

A. Determine a 90% confidence Interval for the mean pay per an hour,u?, of this firm's consulting jobs.

B. Interpet your results in word. (USE COMPLETE SETENCES, PLEASE and THANK YOU, SO MUCH)

##### Purchase this Solution

##### Solution Summary

A consulting firm which does consulting jobs on a cost per job basis wants to estimate its average pay per hour. The firm's manager takes a random sample of n=30 jobs and calculates the pay per an hour. The par per an hour values are listed below, rounded to the nearest dollar.

17 23 14 20 68 40 31 19 19 32 13 37 32 28 34

23 29 27 24 27 15 17 28 21 18 24 37 20 22 30

A. Determine a 90% confidence Interval for the mean pay per an hour,u?, of this firm's consulting jobs.

B. Interpet your results in word. (USE COMPLETE SETENCES, PLEASE and THANK YOU, SO MUCH)

##### Solution Preview

A. Determine a 90% confidence Interval for the mean pay per an hour,u?, of this firm's consulting jobs.

<br>

<br>We calculate the sample mean M= 26.3

<br>N = 30, then degree of freedom = 30-1=29

<br>Standard Deviation = 10.655 (use "=STDEV" function in EXCEL)

<br>Standard Error = SD/SQRT(N) = 10.655/ SQRT(30) =1.945

<br>From ...

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

##### Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.