Geographically, a county consists of multiple census tracts. In order to estimate the median household income...
Geographically, a county consists of multiple census tracts. In order to estimate the median household income of the Howard County, MD, a researcher randomly selected several census tracts and collected the median household income of these tracts which are:
$209563, $174250, $177547, $176194, $160190, $100506, $83750, $136346, $149537.
Do the following questions by hand.
- Give the best estimation of the mean and the variance of the median household income in the whole Howard County.
- Calculate the 99% and 95% confidence intervals of Howard County median household income.
- To be 90% confident that the true mean of the county-wide median household incomes is within $1000 of the sample mean, how many census tracts need to be selected?
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