THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The data shown below specify how much a sample of 20 executives paid in federal income taxes,as a percentage of gross income,are reproduced below.

Assume that the standard deviation for the underlying population is equal to 4.0.
-Give a careful verbal interpretation of the 99% confidence interval for the population mean.

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The data shown below specify how much a sample of 20 executives paid in federal income taxes,as a percentage of gross income,are reproduced below.
  
Assume that the standard deviation for the underlying population is equal to 4.0.
-Give a careful verbal interpretation of the 99% confidence interval for the population mean.

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The data shown below specify how much a sample of 20 executives paid in federal income taxes,as a percentage of gross income,are reproduced below.
  
Assume that the standard deviation for the underlying population is equal to 4.0.
-Give a careful verbal interpretation of the 99% confidence interval for the population mean.