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[All Steps] The standard deviation of the average daily wages of psychiatrists in New York is known to be $15.00 (Each psychiatrist has his own average

Question: The standard deviation of the average daily wages of psychiatrists in New York is known to be $15.00 (Each psychiatrist has his own average daily wage, and the standard deviation of these is $15.00). A random sample of 100 psychiatrists, taken with replacement, yielded a mean daily wage of $160. Find: a) 95% Confidence Interval. b) 99% confidence interval.

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[All Steps] The standard deviation of the average daily wages of psychiatrists in New York is known to be $15.00 (Each psychiatrist has his own average

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