Question

Assume that from the following universe corresponding to the monthly salaries of the past six presidents of the company EMI inc. it is specified that all possible samples of size "3" are extracted without repetition. (universe values ​​= $ 8,600; $ 8,725; $ 8,475; $ 9,010; $ 8,885; $ 8,935). With this information, the financial analyst wishes to demonstrate the Central Limit Theorem and find the possible confidence intervals of the sample means with a significance level of 90%.

Perform the analysis required for the study.

Answer 1

From the given data

90% Confidence interval: