Determine the confidence interval for the mean salary of accountantants in the o

Question

Determine the confidence interval for the mean salary of accountantants in the oil and gas industry.$ 2,500,000
$ 1,098,337
$ 577,951
$ 1,000,000
$ 9,000,000
$ 4,500,000
$ 893,009
$ 745,000
$ 12,500,000
$ 750,000
$ 11,750,000
$ 1,400,000
$ 644,967
$ 801,066
$ 5,000,000
$ 579,585
$ 1,200,000
$ 2,800,000
$ 4,850,000
$ 585,000
$ 510,000
$ 435,000
$ 7,100,000
$ 1,000,000
$ 6,015,679
$ 435,000
$ 660,000
$ 459,529
$ 1,250,000
$ 612,000
$ 660,000
$ 525,000
$ 510,000
$ 2,250,000
$ 1,326,164
$ 435,000
$ 813,899
$ 960,157
$ 1,000,000
$ 1,500,000
$ 435,000
$ 615,000
$ 1,749,750
$ 435,000
$ 598,791
$ 390,000
$ 2,356,000
$ 970,000
$ 797,434
$ 3,000,000
$ 3,000,000
$ 1,445,000
$ 1,100,000
$ 900,000
$ 605,000
$ 2,200,000
$ 660,000
$ 1,000,000
$ 3,500,000
$ 1,500,000
$ 9,850,000
$ 1,800,000
$ 1,500,000
$ 585,000
$ 884,000
$ 1,550,000
$ 975,000
$ 2,550,000
$ 510,000
$ 510,000
$ 1,542,000
$ 9,777,777
$ 750,000
$ 1,542,000
$ 435,000
$ 582,352
$ 435,000
$ 525,000
$ 3,000,000
$ 510,000
$ 435,000
$ 3,000,000
$ 3,750,000
$ 585,000
$ 435,000
$ 970,000
$ 510,000
$ 585,000
$ 435,000
$ 4,000,000
$ 525,000
$ 585,000
$ 435,000
$ 230,294
$ 621,176
$ 510,000
$ 435,000
$ 660,000
$ 745,000
$ 898,104
$ 332,647
$ 4,027,083
$ 435,000
$ 745,000
$ 585,000
$ 773,873
$ 435,000
$ 900,000
$ 1,542,000
$ 6,000,000
$ 435,000
$ 510,000
$ 510,000
$ 378,529
$ 435,000
$ 435,000
$ 2,000,000
$ 870,000
$ 421,235
$ 655,183
$ 435,000
$ 435,000
$ 435,000
$ 1,542,000
$ 435,000
$ 456,470
$ 716,670
$ 1,564,182
$ 510,000
$ 510,000
$ 550,588
$ 459,767
$ 435,000
$ 435,000
$ 585,000
$ 435,000
$ 1,350,000
$ 900,000
$ 1,124,536
$ 600,000
$ 510,000
$ 358,235
$ 414,352
$ 435,000

Explanation / Answer

We have to find confidence interval for mean.

By using TI - 84 we can find easily.

First enter data into TI-84 using below path

Click on STAT ------> Edit -------> Enter value into L1

Then click on STAT -------> TEST -------> TInterval ---------> Data ------> List : L1

C- level : 0.95

Calculate.

We get confidence interval for mean is ( $1,157536   ,      $1857872)

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