From historical records, we know that the standard deviation of starting salaries is $17,000. For the academic year ending in May 2017, 40 students responded to the survey and the school reported that the average starting salary was between {$67,000 and $77,000}. Wh
A school of business regularly surveys graduating seniors who have gotten jobs, to determine the average starting salary of all graduating seniors. However, not many students respond to this survey. So there is always some uncertainty in determining the average starting salary from the survey data. From historical records, we know that the standard deviation of starting salaries is $17,000. For the academic year ending in May 2017, 40 students responded to the survey and the school reported that the average starting salary was between {$67,000 and $77,000}. What was the confidence level at which the inference was made? [use excel
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