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A Random Sample of 87 Airline Pilots Had an Average

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A random sample of 87 airline pilots had an average yearly income of $99,400 with a standard deviation of $12,000.
a.If we want to determine a 95% confidence interval for the average yearly income, what is the value of t?
b.Develop a 95% confidence interval for the average yearly income of all pilots.

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Definitions:

Money

A medium of exchange that allows for the valuation of goods and services, facilitating trade and economic activity.

Desirable Behaviors

Actions or reactions that are considered preferred or positive within a specific context or society.

Negative Reinforcement

The removal of an aversive stimulus following a desired behavior, which also increases the likelihood of that behavior's recurrence.

Punishment

A consequence applied in response to undesired behavior, intended to discourage that behavior in the future.

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