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, 95% of the salary offers are between 27.5 and 30.3.

Question

Quizplus · Accepted Answer

A 95% confidence interval means we are 95% confident that the true population mean lies within this range, not that 95% of individual data points fall within this interval.

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