Instruction 8-6
A sample of salary offers (in thousands of dollars) given to students majoring in management is: 28, 31, 26, 32, 27, 28, 27, 30, 31, and 29. Using this data to obtain a 95% confidence interval resulted in an interval from 27.5 to 30.3.
-Referring to Instruction 8-6,95% of the sample means will fall between 27.5 and 30.3.

Question

Quizplus · Accepted Answer

The 95% confidence interval from 27.5 to 30.3 indicates that we are 95% confident that the true mean salary offer for all management majors falls within this range, not that 95% of sample means will fall within this range.

Instruction 8-6 A Sample of Salary Offers (In Thousands of Dollars) Given