salaries of 45 college graduates who took a statistic course in college have a mean of 68,500 assuming a standard deviation, of 10,990, construct 95% confidence interval for estimating the population mean mu
1 answer:
Explanation:
We are given:
sample size= n = 45
sample mean = x = 61,300
sample standard deviation =18,246
Since the population standard deviation is not known we will use t distribution to find the confidence interval.
Confidence interval = 99%
Degrees of freedom= n - 1 = 45 – 1 = 44
Critical t value = 2.692
The 99% confidence interval will be:
Thus, the 99% confidence interval for the population mean is:
53978 to 68622
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