Question

Starting salaries of 95 college graduates who have taken a statistics course have a mean of $44,915. Suppose the distribution of this population is approximately normal and has a standard deviation of $10,596.
Using an 85% confidence level, find both of the following:
(NOTE: Do not use commas nor dollar signs in your answers.)

(a) The margin of error:

(b) The confidence interval for the mean μ:

Answer 1

We have given that,                              
                              
Sample mean =44915                      
Population standard deviation=10596                  
Sample size=95                      
Level of significance =1-0.85=0.15                      
Z critical value (by using Z table)=1.44                      
                  

a)
Margin of error

b)      
Confidence interval formula is


=(43350.05,46479.95)