Solution-Sample mean starting salary

Sample mean starting salary

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A simple random sample of 25 recent graduates from a particular collage gives a sample mean starting salary of $24,000 with sample standard deviation $3,000.

a) Give the 95% confidence interval. We did an almost identical (with different numbers) question in class on 3/8.

b) Without doing any calculations, would the 99% confidence interval be narrower or widerthan the 95% confidence interval.

c) Suppose the sample size was 50 (instead of 25) and the sample mean and standard deviation were the same values. Without doing any calculations, would the 95% confidence interval with n = 50 be narrower or wider than the 95% confidence interval withn = 25?

Reference no: EM131435551

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Sample mean starting salary

Reference no: EM131435551

Reference no: EM131435551

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