Estimation

Problem-26: Estimation

Chief of Police Kathy Ackert has recently instituted a crackdown on drug dealers in her city. Since the crackdown began, 750 of the 12,368 drug dealers in the city have been caught. The mean dollar value of drugs found on these 750 dealers is $250,000. The standard deviation of the dollar value of drugs for these 750 dealers is $41,000. Construct for Chief Ackert a 90 percent confidence interval for the mean dollar value of drugs possessed by the city’s drug dealers.

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Problems: Estimation

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