Question

# (1 point) Starting salaries of 135 college graduates who have taken a statistics course have a...

(1 point) Starting salaries of 135 college graduates who have taken a statistics course have a mean of \$42,583. The population standard deviation is known to be \$9,171. Using 99% confidence, find both of the following:

A. The margin of error:

B. Confidence interval: ,

 Sample Size (n) = 135 Population Standard Deviation (SD) = 9171 Mean = 42583

Ans A

 Z score for 99% confidence = 2.58 Margin of Error = (2.58 * 9171)/(135)^(1/2) = 2036.43

Ans B

 Confidence Interval = Mean +/- (margin of Error) Lower End of the Interval = Mean - (margin of Error) = 40546.57 Upper End of the Interval = Mean + (margin of Error) = 44619.43

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