Salaries of 33 college graduates who took a statistics course in college have a mean, x, of $63,500. Assuming a standard deviation, σ, of $14,397, construct a 95% confidence interval for estimating the population mean μ.

Salaries of 33 college graduates who took a statistics course in college have a mean, x, of $63,500. Assuming a standard deviation, σ, of $14,397, construct a 95% confidence interval for estimating the population mean μ.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section: Chapter Questions

Problem 11MCQ

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Question

Salaries of

college graduates who took a statistics course in college have a mean,

$63,500.

Assuming a standard deviation,

σ,

$14,397,

construct a

95%

confidence interval for estimating the population mean

μ.

Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.

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