1. What is the mean income in this sample?

1. What is the mean income in this sample?

2. What is the standard deviation?

3. What is the standard error of the mean?

4. Compute a 95% confidence interval around the mean. (Use 1.96 for the 95% CI and get the standard error from the descriptive statistics table). The formula is as follows:

95% CI = [mean ± (1.96 ´ SE)]

5. Compute a 99% confidence interval around the mean. (Use 2.58 for the 99% CI and get the standard error from the descriptive statistics table). The formula is as follows:

99% CI = [mean ± (2.58 ´ SE)]

6. Which interval is wider? Explain.

Review the corresponding Week 4 Descriptive Statistics Exercises SPSS Output document that has the SPSS output for the above problems. Compare your output with the output in the file.