Question

A clothing retailer is interested in the average waist size of men. A sample is taken with the results given below.Column1MeanStandard ErrorMedianModeStandard DeviationSample VarianceKurtosisSkewnessRangeMinimumMaximum41.391.033SumCount41415.46629.880.4740.608213253115960Confidence Level(95.0%) 2.119What is the sample statistic? = Ex: 1.23€What is the point estimate for the average waist size?What is the level of confidence as a decimal? Ex: 0.55What is the margin of error? Ex: 1.234What is the confidence interval? [2

Answer 1

Hello there. To solve this question, we have to remember some properties about statistics.

Given the table with the information on the average waist size of men:

We want to answer:

a) What is the sample statistic?

In this case, it is the average, hence we use the mean value:

$\overline{x}=41.39$

c) What is the level confidence as a decimal?

For this, we take the confidence interval as a percentage and divide it by 100%

$\dfrac{95\%}{100\%}=0.95$

d) What is the margin of error?

In this case, we use the standard error value, that is the difference between the extremes of the interval of confidence and the mean:

$\text{ Margin of error = }1.033$

e) What is the confidence interval?

For this, subtract and add the margin of error value from the mean:

$[40.36,\,42.42\rbrack$

These are the answers to this question.