2. (TCO 7) A nursing school wants to estimate the true mean annual income of its alumni. It randomly samples 200 of its alumni. The mean annual income was $55,200 with a standard deviation of $1,500. Find a 95% confidence interval for the true mean annual income of the nursing school alumni. Write a statement about the confidence level and the interval you find. (Points : 6)
3. (TCO 7) An auditor wants to estimate what proportion of a bank’s commercial loan files are incomplete. The auditor randomly samples 100 files and finds 9 are incomplete. Using a 95% confidence interval, estimate the true proportion of incomplete files for ALL the bank’s commercial loans. Write a statement about the confidence level and the interval you find. (Points : 6)
due in hour
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