Answer:
The Confidence Interval = ($44,745.55 , $46,094.45)
Step-by-step explanation:
The formula for Confidence Interval =
Confidence Interval = Mean ± z × Standard deviation/√n
Where n = number of samples = 25 managers
Standard deviation = $2,050
Mean = $45,420
z = z score of the given confidence interval
= z score of 90% confidence interval
= 1.645
Confidence Interval = $45,420 ± 1.645 × $2,050/√25
= $45,420 ± 1.645 × $2,050/5
= $45,420 ± 674.45
Confidence Interval =
$45,420 - 674.45 = $44,745.55
$45,420 + 674.45 = $46,094.45
Therefore, the Confidence Interval = ($44,745.55 , $46,094.45)
