Question
In: Statistics and Probability
Salaries of 33 college graduates who took a statistics course in college have a mean, x...
Salaries of 33 college graduates who took a statistics course in college have a mean, x overbar x, of $67,700. Assuming a standard deviation, sigma σ, of $10,608, construct a 95% confidence interval for estimating the population mean μ.
Solutions
Expert Solution
Solution :
Given that,
= 67700
=10608
n = 33
At 95% confidence level the z is ,
= 1 - 95% = 1 - 0.95 = 0.05
/ 2 = 0.05 / 2 = 0.025
Z/2
= Z0.025 = 1.96
Margin of error = E = Z/2* ( /
= 1.96* (10608 /
= 3619.37 (rounded)
At 95% confidence interval estimate of the population mean is,
- E < 
< + E
67700-3619.37 < <67700+3619.37
64080.63< < 7131.37
(,64080.63, 7131.37 )
orchestra answered 2 years agoRelated Solutions
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