An experiment involves selecting a random sample of 256 middle managers for study. One item of interest is annual income. The sample mean is computed to be $35,420 and the sample standard deviation is $2,050. Using this information, calculate the 95% confidence interval (rounded to the nearest $10). Interpret your findings.© BrainMass Inc. brainmass.com June 3, 2020, 7:05 pm ad1c9bdddf
Please see the response as below
Sample mean of annual income, x(bar) = $35420
Sample standard deviation of the annual income, s = $2050
As we do not know the population standard deviation, the sample standard deviation is ...
The solution contains calculation of the 95% confidence interval and interpretation of the result.