12. Number of Jobs A sociologist found that in a random sample of 50 retired men, the average number of jobs they had during their lifetimes was 7.2. The population standard deviation is 2.1. a. Find the best point estimate of the population mean. b. Find the 95% confidence interval of the mean num- ber of jobs. c. Find the 99% confidence interval of the mean num- ber of jobs. d. Which is smaller? Explain why.
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Since we have a random sample of 50 retired men with an average number of jobs of 7.2, the best point estimate of the population mean is the sample mean, which is 7.2. Now, let's find the 95% confidence interval of the mean number of jobs. We know that the Show more…
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Number of Jobs A sociologist found that in a random sample of 50 retired men, the average number of jobs they had during their lifetimes was 7.2. The population standard deviation is 2.1. a. Find the best point estimate of the population mean. b. Find the 95% confidence interval of the mean number of jobs. c. Find the 99% confidence interval of the mean number of jobs. d. Which is smaller? Explain why.
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Number of Jobs A sociologist found that in a random sample of 50 retired men, the average number of jobs they had during their lifetimes was $7.2 .$ The population standard deviation is $2.1 .$ a. Find the best point estimate of the population mean. b. Find the $95 \%$ confidence interval of the mean number of jobs. c. Find the $99 \%$ confidence interval of the mean number of jobs. d. Which is smaller? Explain why.
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