You are tracking Chipotle Mexican Grill's stock price, attempting to figure out a good price point for entry into the market. You look at 37 random days over the course of a few months and see that the closing price has an average of $325.47 with a standard deviation of $21.064. You construct a 95% confidence interval for the average stock price to be (318.45, 332.49). Of the following choices, what is the appropriate interpretation of this interval?

Question 4 options:

1)

We are 95% confident the average daily closing price for any day is between $318.45 and $332.49

2)

We are 95% confident the average daily closing price for the days monitored is between $318.45 and $332.49.

3)

We are 95% confident that the proportion of all days that have a closing price between $318.45 and $332.49 is 95%

4)

We cannot determine the proper interpretation of this interval.

5)

We are certain that 95% of the daily closing prices will be between $318.45 and $332.49.