Question

A survey of psychologists attempted to figure the mean income of psychologists across various academic degrees and levels of experience. 50 psychologists who hold masters degree reported a mean income of $43, 834 with a standard deviation of $16.870. What is the upper bound of the 95% confidence interval?

honestly, Im unaware if it is 16.870 or 16,870, can you please do both? I believe that is what messed up my own calculations

Answer 1

Solution :

Given mean = 43834

standard deviation = 16870

sample size n = 50

95% confidence interval =

the upper bound of the 95% confidence interval is 48510.13.

Given mean = 43834

standard deviation = 16.870

sample size n = 50

95% confidence interval =

the upper bound of the 95% confidence interval is 43838.68.