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Confidence Interval for population mean and sample data

Use given degree of confidence and sample data to find a) margin of error E and b) the confidence interval for the population mean mu. Starting salaries of college graduates who have taken a statistics course: 95% confidence; n=100, mean of the values in a sample (x with line above)= $43,704, s= $9879.

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Solution Summary

A confidence interval (CI) for a population parameter is an interval between two numbers with an associated probability p which is generated from a random sample of an underlying population, such that if the sampling was repeated numerous times and the confidence interval recalculated from each sample according to the same method, a proportion p of the confidence intervals would contain the population parameter in question. Confidence intervals are the most prevalent form of interval estimation. This problem illustrates how to find the confidence interval for the population mean.