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  • Feb 9, 2011, 06:46 PM
    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

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