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    Statistics - Calculating Confidence Interval

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    The undergraduate grade point average (GPA) for students admitted to the top graduate business schools was 3.37 (Best Graduate Schools, U.S. News and World Report, 2001). Assume this estimate was based on a sample of 120 students admitted to the top schools. Using past years' data, the population standard deviation can be assumed known with σ = 0.28. What is the 95% confidence interval estimate of the mean undergraduate GPA for students admitted to the top graduate business schools?

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    Solution Preview

    Given Sample Mean = 3.37

    Sample size = 120

    Poulation Standard Deviation = 0.28

    Using ...

    Solution Summary

    Solution to the posted problem in which Population mean, Population Standard Deviation and Sample Size are given, it is explained step by step using all the farmulas and procedure in simple way how to find the 95% Confidence Interval.
    Students can use this solution as a model solution to work out similar type of problems.