Question

Suppose that we have constructed a 95% confidence interval for the true mean salary of graduating business majors: (50k, 70k). Based on this interval, what was the sample mean salary of our sampled business majors? Group of answer choices

Answer 1

Answer: The sample mean salary of our sampled business majors= 60k .

Step-by-step explanation:

We know that a confidence interval is give by :_

$(\overline{x}-E,\ \overline{x}+E)$       (i)

, where $\overline{x}$ = Sample mean

E = margin of error

Given : A 95% confidence interval for the true mean salary of graduating business majors: (50k, 70k).

As compared to (1) , we have

$\overline{x}-E=50k--------(1)\\\\ \overline{x}+E=70k-------(2)$

Add (1) and (2) , we get

$2\overline{x}=120k\\\\\overline{x}=60 k$

∴ The sample mean salary of our sampled business majors= 60k .