BA 501,Techniques in Business & Economics, Statistics
Not what you're looking for?
Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000 with a standard deviation of $2,500.What is the 95% confidence interval for the mean salary of all graduates from the English Department?
[$22,500, $27,500]
[$24,755, $25,245]
[$24,988, $25,012]
[$24,600, $25,600]
Purchase this Solution
Solution Summary
A simple computation is shown. Techniques in business and economics statistics is determined.
Solution Preview
Hello!
The correct answer is "[$24,755, $25,245] "
The distribution of the sample mean for large sample sizes can be assumed to be normal, with ...
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.