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    BA 501,Techniques in Business & Economics, Statistics

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    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]

    © BrainMass Inc. brainmass.com June 3, 2020, 6:56 pm ad1c9bdddf
    https://brainmass.com/business/business-math/techniques-business-economics-statistics-80296

    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 ...

    Solution Summary

    A simple computation is shown. Techniques in business and economics statistics is determined.

    $2.19

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