You are working as an assistant to the dean of institutional research at your university. The dean wants to survey members of the alumni association who obtained their baccalaureate degree five years ago to learn what their starting salaries were in their first full-time job after receiving their degrees. A sample of 100 alumni is to be randomly selected from the list of 2,050 graduates in that class. If the dean’s goal is to construct a 95 % confidence interval estimate for the population mean starting salary, why is it not possible that you will be able to use Equation (8.1) on page 279 for this purpose? Explain.
You are working as an assistant to the dean of institutional research at your university. The dean wants to survey members of the alumni association who obtained their baccalaureate degree five years ago to learn what their starting salaries were in their first full-time job after receiving their degrees. A sample of 100 alumni is to be randomly selected from the list of 2,050 graduates in that class. If the dean’s goal is to construct a 95 % confidence interval estimate for the population mean starting salary, why is it not possible that you will be able to use Equation (8.1) on page 279 for this purpose? Explain.
Solution Summary: The author explains that the equation 8.1 gives the formula to estimate confidence interval for population mean.
You are working as an assistant to the dean of institutional research at your university. The dean wants to survey members of the alumni association who obtained their baccalaureate degree five years ago to learn what their starting salaries were in their first full-time job after receiving their degrees. A sample of 100 alumni is to be randomly selected from the list of 2,050 graduates in that class. If the dean’s goal is to construct a
95
%
confidence interval estimate for the population mean starting salary, why is it not possible that you will be able to use Equation (8.1) on page 279 for this purpose? Explain.
Definition Definition Number of subjects or observations included in a study. A large sample size typically provides more reliable results and better representation of the population. As sample size and width of confidence interval are inversely related, if the sample size is increased, the width of the confidence interval decreases.
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