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Get Full Access to Statistical Techniques In Business And Economics - 15 Edition - Chapter Chapter 9 - Problem 13
Get Full Access to Statistical Techniques In Business And Economics - 15 Edition - Chapter Chapter 9 - Problem 13

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# Merrill Lynch Securities and Health Care Retirement Inc. are two large employers in

ISBN: 9780073401805 480

## Solution for problem 13 Chapter Chapter 9

Statistical Techniques in Business and Economics | 15th Edition

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Problem 13

Merrill Lynch Securities and Health Care Retirement Inc. are two large employers in downtown Toledo, Ohio. They are considering jointly offering child care for their employees. As a part of the feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A sample of 10 employees who use child care reveals the following amounts spent last week. \$107 \$92 \$97 \$95 \$105 \$101 \$91 \$99 \$95 \$104 Develop a 90 percent confidence interval for the population mean. Interpret the resul

Step-by-Step Solution:

Problem 13

Merrill Lynch Securities and Health Care Retirement Inc. are two large employers in downtown Toledo, Ohio. They are considering jointly offering child care for their employees. As a part of the feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A sample of 10 employees who use child care reveals the following amounts spent last week.

Develop a 90 percent confidence interval for the population mean. Interpret the result.

Step by step solution:

Step 1:

Determine the Population Mean:

Given,

Sample of employees,

Population Mean,

Step 2 of 3

Step 3 of 3

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