Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey

 

A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($124443, $140,235). Give a practical interpretation of the interval. 90% of all CEOS in the electronics industry have salaries that fall between $124,443 to $140,235. We are 90% confident that the mean salary of the sampled CEOS falls in the interval $124,443 to $140,235. We are 90% confident that the mean salary of all CEOS in the electronics industry falls in the interval $124,443 to $140,235. 90% of the sampled CEOS have salaries that fell in the interval $124,443 to $140,235.

Step by Step Solution

3.43 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

Solution From the given data Here 90 confidence int... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Reasoning for Everyday Life

Authors: Jeff Bennett, Bill Briggs, Mario F. Triola

4th edition

978-0321817747, 321817745, 978-0321890139, 321890132, 321817621, 978-0321817624

More Books

Students also viewed these Mathematics questions