In Order to Estimate the Average Electric Usage Per Month

question 89

Short Answer

In order to estimate the average electric usage per month, a sample of 196 houses was selected and the electric usage determined.
a.Assume a population standard deviation of 350 kilowatt hours. Determine the standard error of the mean.
b.With a 0.95 probability, determine the margin of error.
c.If the sample mean is 2,000 KWH, what is the 95% confidence interval estimate of the population mean?

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Definitions:

Grow Older

The natural process of aging or maturing, involving biological, emotional, and psychological changes over time.

Contingent Employees

Workers hired on a temporary basis, often without the benefits afforded to full-time employees.

Lower Job Involvement

A worker's lesser psychological identification with or commitment to their job, typically leading to reduced motivation and performance.

Cost Less

The strategy or outcome of reducing expenses or spending less money on a project or product.