Question
A market researcher selects a simple random sample of n = 100 customers from a population of 2 million customers. After analyzing the sample, she
A market researcher selects a simple random sample of n = 100 customers from a population of 2 million customers. After analyzing the sample, she states that she has 95% confidence that the mean annual income of the 2 million customers is between $70,000 and $85,000.
Explain the statistical meaning of this statement.
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Elementary Statistics Picturing The World
Authors: Ron Larson, Betsy Farber
6th Edition
0321911210, 978-0321911216
