Arandom sample of 42 college graduates revealed that they worked an average of 5.5 years on the job before being promoted. the sample standard deviation was 1.1 years. using the 0.99 degree of confidence, what is the confidence interval for the population mean?

Confidence interval for the population mean = 5.063 to 5.937

Explanation:

For confidence interval for the population mean you first need to calculate error. For Error, E = z value* sample standard deviation / sq. root of sample.

z value for 99% confidence = 2.58

Sample standard deviation = 1.1

Sq. root of sample = sq. root of 42 = 6.4807

E = 2.58 * 1.1/6.4807 = 0.4371

Now, confidence interval (CI) = Mean +/- Error

CI = 5.5 +/- 0.4371 which gives 5.063 to 5.937

nobles

explanation:

someone who has high morals and ideals or people who are royalty or who have good breeding. an example of noble is a person who is always honest and charitable. an example of noble is a king.

this is an outline for the decisions that frankie is going to make

opportunity cost

willingness to buy

price or quality

of course, there could be many economic strategies that should be considered important while making decision. opportunity cost is the foremost significant factor while considering any economic option. when you buy something, you should know how much you are forgoing for this product. indeed, you could buy something different with this measure if you changed your mind. willingness to buy shows how much surplus you are earning while making a decision. it is important because it shows you buy what you want or you buy because you have only limited amount of money. the price or quality can be considered as a general economic option that we are applying while buying something. when you buy something, price or quality could be one of the options. indeed, they define the characteristics of the product.    

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