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1- Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four...

1- Recently, 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 with a standard deviation of $2,500.

a) What is the best point estimate of the population mean?

b) What is the 95% confidence interval for the mean salary of all graduates from the English Department?

Please show calculations on paper. Thank you.

c) What do the confidence interval results mean?

Math   Statistics-And-Probability   
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Answer #1

a) THe best point estimate of the population mean is ,

Point estimate=

b) The 95% confidence interval fr the mean salary of all graduates from the English Department is ,

; ; from Z-table

c) There is 95% confidence that the true population mean salary of all graduates from the English Department is is fall within the interval (24755,25425)

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