rpark10 Posts: 1, Reputation: 1 New Member #1 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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