1. A university conducted a study to track its graduates for the past 5 years. The survey questionnaire asks for data on the monthly salaries of the graduates. A sample of 100 graduates yielded as sample mean of P27,800.00. Assuming a normally distributed population, construct a 95% confidence interval for the population mean salary of graduates if it is known that the population standard deviation is P9,369.00. Interpret the result.

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