An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income is found to be $24.4 for a random sample of 748 people. Assume the population standard deviation is known to be $10.6. Construct the 85% confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place.

11

step-by-step explanation:

32.50-7.50=25

225/25=11

bull

step-by-step explanation:

(a) {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …}

(b) $59 398

step-by-step explanation:

(a) the annual sequence of profits

aₙ = a₁rⁿ⁻¹

the model for the sequence of profits is {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …} .

(b) profit after 15 yr

  a₁ = $ 30 000

  r = 1.05

a₁₅ = 30 000 × 1.05¹⁴

a₁₅ = 30 000 × 1.979 93

a₁₅ = $59 398

the profit in year 15 will be $59 398.