TABLE 8-5
A sample of salary offers (in thousands of dollars) given to management majors is: 48, 51, 46, 52, 47, 48, 47, 50, 51, and 59. Using this data to obtain a 95% confidence interval resulted in an interval from 47.19 to 52.61.
-Referring to Table 8-5, 95% of the time, the sample mean salary offer to management majors will fall between 47.19 and 52.61.

Question

Quizplus · Accepted Answer

A 95% confidence interval means that we are 95% confident that the true population mean falls within the interval, not that 95% of sample means will fall within it.

TABLE 8-5 A Sample of Salary Offers (In Thousands of Dollars) Given