Question

Salaries of 4747 college graduates who took a statistics course in college have a mean, x overbarx, of $63,000. Assuming a standard deviation, sigmaσ, of $16 comma 37216,372, construct a

9090% confidence interval for estimating the population mean μ.

(Round to the nearest integer as needed.)

Answer #1

Solution :

Given that,

Point estimate = sample mean = = 63000

Population standard deviation = = 16372

Sample size = n = 47

Z_{/2}
= 1.645

Margin of error = E = Z_{/2}*
(
/n)

= 1.645 * (16372 / 47)

= 3928

At 90% confidence interval estimate of the population mean is,

- E < < + E

63000 - 3928 < < 63000 + 3928

59072 < < 66928

**(59072 , 66928 )**

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