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 all confidence intervals constructed similarly to this one with a sample size of 10 will contain the mean of the population.

Question

Quizplus · Accepted Answer

This statement is true according to the concept of confidence intervals. A 95% confidence interval means that if we construct several intervals using similar data and methods, then in 95% of the cases, the true population mean will fall within the interval. Therefore, 95% of confidence intervals constructed similarly to this one with a sample size of 10 are expected to contain the mean of the population.

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