Question

salaries of 45 college graduate who took a statistics course in college have a mean of X $62,400. assuming a standard division of $11,157 construct of 99% confidence interval for estimating the population mean.

core: 0 of 1 pt of 12 (12 complete) HW Score: 74.44%, 8.93 x 7.2.37 Question Help Salaries of 45 college graduates who took a statistics course in college have a mean, x, of $62,400. Assuming a standard deviation, a, of $11,157, construct a 99% confidence interval for estimating the population mean Click here to view at distribution table t Click here to view page 1 of the standard normal distribution table Click here to view page 2 of the standard normal distribution table $ < < (Round to the nearest Integer as needed.)

Answer 1

Solution :

Given that,

Z$\alpha$/2 = Z0.005 = 2.576

Margin of error = E = Z$\alpha$/2 * ( $\sigma$ /$\sqrt$n)

= 2.576 * ( 11157 /  $\sqrt$45 )

= 4284

At 99% confidence interval estimate of the population mean is,

$\bar x$ - E < $\mu$ < $\bar x$ + E

62400 - 4284 <  $\mu$ < 62400 + 4284

( $ 58,116 <  $\mu$ < $ 66,684 )