TABLE 8-1
A random sample of 100 stores from a large chain of 500 garden supply stores was selected to determine the mean number of lawnmowers sold at an end-of-season clearance sale. The sample results indicated a mean of 6 and a standard deviation of 2 lawnmowers sold. A 95% confidence interval (5.623 to 6.377) was established based on these results.
-Referring to Table 8-1, of all possible samples of 100 stores taken from the population of 1,000 stores, 95% of the confidence intervals developed will contain the true population mean within the interval.

Question

Quizplus · Accepted Answer

The statement refers to the concept of "confidence level." A 95% confidence interval means that if we repeatedly take samples from the population and construct 95% confidence intervals, around 95% of them will include the true population mean. Therefore, the statement is true.

TABLE 8-1 A Random Sample of 100 Stores from a Large Chain