Question

Recently, an advertising agency surveyed marketing analysts for their starting salaries. Fifteen analysts returned the survey. Analysis of the survey data revealed an average salary was $70,000 with a standard deviation of $5,500 What do the 95% confidence interval results mean? O A. The population mean is in the interval B. There is a 10% chance that the computed interval does not contain the population O mean. C. The likelihood that any confidence interval based on a sample of 15 marketing analysts will contain the population mean is 0.95 OD. The population mean is not in the interval

Answer 1

The solution to this problem is given by

Solution- on Mean The correct answer is (C) The likelihood that any confidence any confidence interval based sample of 15 marketing analysts will contain the Population is 0.95 Because this interval is based on the 95%. confidence and this undeoval is is combuted using the this landom sample so 15 Statement is likelihood correct. Hence that any confidence interval based Samble of 15 marketing analysts will contain the is 0.95 The on a bobulation mean