Question

Salaries of 35 college graduates who took a statistics course in college have a​ mean, x overbarx​, of $66, 200. Assuming a population standard deviation of ​$17,102, construct a 95​% confidence interval for estimating the population meanμ.

​

​$__________<μ<​$______________

​(Round to the nearest integer as​ needed.)

Answer 1

Solution :

Given that,

=  $ 66, 200.

= ​$ 17,102

n = 35

At 95% confidence level the z is ,

  = 1 - 95% = 1 - 0.95 = 0.05

/ 2 = 0.05 / 2 = 0.025

Z_/2 = Z_0.025 = 1.960

Margin of error = E = Z_/2* (/n)

= 1.960 * (17.102 / 35 )

= 5.666

At 95% confidence interval estimate of the population mean is,

- E < < + E

66.200 - 5..666 < < 66.200 + 5.666

$ 60.534 < < $ 71.866