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The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of

The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, it also entails promising careers with lucrative salaries. A student of finance is curious about the average salary of a CFAcharterholder. He takes a random sample of 25 recent charterholders and computes a mean salary of $136,000 with a standard deviation of $35,000. Use this sample information to determine the 99% confidence interval for the average salary of a CFA charterholder.Assume that salaries are normally distributed.

Confidence interval to

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