help for a statistics question please.
i need solution for this question.
A consumer agency that proposes that lawyer's rate are too high wanted to estimate the mean hourly rate for all lawyers in New york is 110(usd).
a)construct %97 confidence interval for the mean hourly charges for all lawyers in New york.
b)explain why we need to make confidence interval.why can we not say that the mean hourly rate for all lawyers in New york is 420(usd)?
thanks for everything.
Re: help for a statistics question please.
Where did you get this problem? Are you not taking a course in, perhaps, "probability and statistics"? If so you should at least know what is meant by a "97% cofidence interval"? And you certainly should know that you have to have some information to construct one. Where did that "$110" come from? Where did that "$420" come from? If some agency says that the mean is $110 (and thinks that is too high) what information could you have that you should say it is actually almost four times that value? Are you sure you have copied the problem correctly?
Originally Posted by mami