Chapter 8: Q 8.3. (page 319)
When estimating an unknown parameter, what does the margin of error indicate?
The margin of error indicates the accuracy of the estimate, which is an estimate for the value of the unknown parameter when estimating the unknown parameter.
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Big Bucks. In the article "The Club" (The Business Journal, Vol. 24, Issue 14, Pp. 80-82), J. Trunelle et al. examined Arizona public-company executives with salaries and bonuses totaling over The following data provide the salaries, to the nearest thousand dollars, of a random sample of such executives. 
For a curve with , use Table IV to find each value.
a.
b.
c.
Suppose that you take simple random samples from a population and that, for each sample, you obtain a confidence interval for an unknown parameter. Approximately how many of those confidence intervals will not contain the value of the unknown parameter?
We provide a sample mean, sample size, and population standard deviation. In each case, perform the following tasks.
a. Find a 95% confidence interval for the popularion mean. (Note: You may want to review Example 8.2, which begins on page 316.)
b. Identify and interpret the margin of error:
c. Express the endpoints of the confidence interval in terms of the point estimate and the margin of error.
where,
Toxic Mushrooms?Cadmium, a heavy metal, is toxic to animals. Mushrooms, however, are able to absorb and accumulate cadmium at high concentrations. The Czech and Slovak governments have set a safety limit for cadmium in dry vegetables at part per million (ppm). M. Melgar et al. measured the cadmium levels in a random sample of the edible mushroom Bolefus pinicola and published the results in the paper "Influence of Some Factors in Toxicity and Accumulation of Cd from Edible Wild Macrofungi in NW Spain (Journal of Envionmental Science and Health. Here are the data obtained by the researchers.
Find and interpret a confidence interval for the mean cadmium level of all Boletus pinicola mushrooms. Assume a population standard deviation of cadmium levels in Bolefus pinicola mushrooms of .
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