Salaries of 50 college graduates who took a statistics course in college have a mean, x of $68,200. Assuming a standard deviation, σ, of $12,279, construct a 95% confidence interval for estimating the population mean μ.

Question

Salaries of 50 college graduates who took a statistics course in college have a​ mean, x of $68,200. Assuming a standard​ deviation, σ​, of $12,279​, construct a 95% confidence interval for estimating the population mean μ.

PsyDAG · Answer

95% = mean ± Z(SD)

Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability (±.025) and its Z score. Insert data into above equation and solve.

Salaries of 50 college graduates who took a statistics course in college have a​ mean, x of $68,200. Assuming a standard​ deviation, σ​, of $12,279​, construct a 95% confidence interval for estimating the population mean μ.

Salaries of 50 college graduates who took a statistics course in college have a mean, x of $68,200. Assuming a standard deviation, σ, of $12,279, construct a 95% confidence interval for estimating the population mean μ.