question archive The monthly income of each of the 500 service microenterprises in a city is a random variable with unknown mean μ
The monthly income of each of the 500 service microenterprises in a city is a random variable with unknown mean μ
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The monthly income of each of the 500 service microenterprises in a city is a random variable with unknown mean μ. In order to simplify tax collection, the SRI has arranged that these companies be taxed monthly with 10% of their income From a random sample of 50 micro-companies, an average monthly income of $ 1000 was obtained with a standard deviation of $ 80.
a. Estimate the mean amount of income of the city's microenterprises with a 95% confidence interval
b. Estimate the average amount of collection for these microenterprises with a 95% confidence interval
c. If the purpose of the SRI is to achieve a total monthly collection of at least $ 52,000 to these microenterprises, is it feasible that its goals are met?
The monthly income of each of the 500 service microenterprises in a city is a random variable with unknown mean μ. In order to simplify tax collection, the SRI has arranged that these companies be taxed monthly with 10% of their income From a random sample of 50 micro-companies, an average monthly income of $ 1000 was obtained with a standard deviation of $ 80.
a. Estimate the mean amount of income of the city's microenterprises with a 95% confidence interval
b. Estimate the average amount of collection for these microenterprises with a 95% confidence interval
c. If the purpose of the SRI is to achieve a total monthly collection of at least $ 52,000 to these microenterprises, is it feasible that its goals are met?
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