Confidence Interval: Mean daily wages of workers
January 23rd, 2023
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Confidence interval for the population mean: Use of the standard normal
The union for a particular industry has determined that the standard deviation of the daily wages of its workers is $20. A random sample of 70 workers in this industry has a mean daily wage of $120 . Find a 90% confidence interval for the true mean daily wage of all union workers in the industry. Then complete the table below.
Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
What is the lower limit of the 90% confidence interval? ___________
What is the upper limit of the 90% confidence interval? ___________