A university surveyed recent graduates of the English Department for their start

Question

A university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000. The population standard deviation is $2,500. A 95% confidence interval is constructed. What does the confidence interval mean?

The population mean is in the interval.
The population mean is not in the interval.
The likelihood that any confidence interval based on a sample of 400 graduates will contain the population mean is 0.95.
There is a 5% chance that the computed interval does not contain the population mean.

Explanation / Answer

The likelihood that any confidence interval based on a sample of 400 graduates will contain the population mean is 0.95.

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