Question

An auditing firm is interested in estimating the mean cost out pocket of uniform/work clothing for employes in the US. They survey SRS of 100 individuals who buy their own work clothing and find that x = 168 and s x = 21 (in USD).

(a) State the parameter our confidence interval will estimate.

(b) Identify the conditions that must be met to use this procedure, and explain how you know that each one has been satisfied.

(c) Find the appropriate critical value and the standard error of the sample proportion.

(d) Give the 95% confidence interval.

(e) Interpret the confidence interval constructed in part D. in the context of the problem.

Answer 1