Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Math & Sciences (https://www.askmehelpdesk.com/forumdisplay.php?f=402)
-   -   Statistics homework (https://www.askmehelpdesk.com/showthread.php?t=553061)

  • Feb 9, 2011, 06:46 PM
    rpark10
    Statistics homework
    .18 A recruiter estimates that if you are hired to work for her company and you put in a full week at the commissioned sales representative position she is offering, you will make “$525 plus or minus $250, 80% of the time.” She adds, “It all depends on you!”
    o a. What does the “$525 plus or minus $250” mean?
    o b. What does the “80% of the time” mean?
    o c. If you make $300 to the nearest $10 most weeks, will she have told you the truth? Explain.

    a) It is a Confidence interval between $275 and $775
    b) Means that 80% fall within predicted interval
    c) Yes, because $300 is within the interval $275 to $775

  • All times are GMT -7. The time now is 07:52 PM.