Salaries of 3636 college graduates who took a statistics course in college have

Question

Salaries of

3636

college graduates who took a statistics course in college have a mean,

x overbarx,

of

$ 62 comma 500$62,500.

Assuming a standard deviation,

sigma,

of

$14 comma 66314,663,

construct a

9090%

confidence interval for estimating the population mean

mu.

Click here to view a t distribution table.

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Click here to view page 1 of the standard normal distribution table.

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$nothing less than<muless than<$nothing

(Round to the nearest integer as needed.)

Explanation / Answer

n = 36     

x-bar = 62500     

s = 14663     

% = 90     

Standard Error, SE = /n =    14663 /36 = 2443.833333

z- score = 1.644853627     

Width of the confidence interval = z * SE =     1.64485362695147 * 2443.83333333333 = 4019.748122

Lower Limit of the confidence interval = x-bar - width =      62500 - 4019.74812199824 = 58480.25188

Upper Limit of the confidence interval = x-bar + width =      62500 + 4019.74812199824 = 66519.74812

The 90% confidence interval is [$58480, $66520].

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