TABLE 8-6
A sample of salary offers (in thousands of dollars) given to management majors 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 Table 8-6, it is possible that the mean of the population is not between 27.5 and 30.3.

Question

Quizplus · Accepted Answer

While the 95% confidence interval calculated from the sample suggests that the true population mean falls between 27.5 and 30.3 thousand dollars, there is a 5% chance that this interval does not include the true population mean. Therefore, it is possible that the mean of the population is not between these values.

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