3. A 95% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,528, $154,454). Give a practical interpretation of the interval.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 6E: List the sample space of each experiment. Tossing three coins
icon
Related questions
Question
3. A 95% confidence interval for the average salary of all CEOS in the electronics industry
was constructed using the results of a random survey of 45 CEOS. The interval was
($139,528, $154,454). Give a practical interpretation of the interval.
Transcribed Image Text:3. A 95% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,528, $154,454). Give a practical interpretation of the interval.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill