Question

The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day. After tracking the daily record for 100 days, the assistant provides the 95% confidence interval as follows: (740 books, 920 books). To interpret this confidence interval, consider the following statements:

I. We are 95% confident that the mean number of books checked out each day during the 100 days falls in the interval of 740 to 920 books.
II. We are 95% confident that the mean number of books checked out on a random day falls in the interval of $2,181,260 to $5,836,180.
III. On 95% of the 100 days, the number of books checked out falls in the interval of of 740 to 920 books.
A) Only statement I is correct.
B) Only statement II is correct.
C) Only statement III is correct.
D) There are more than one correct statements.

Answer 1

The correct interpretation of the 95% confidence interval (740 books, 920 books) is statement I: We are 95% confident that the mean number of books checked out each day during the 100 days falls in the interval of 740 to 920 books.

Step-by-step explanation:

The correct interpretation of the 95% confidence interval (740 books, 920 books) is statement I: We are 95% confident that the mean number of books checked out each day during the 100 days falls in the interval of 740 to 920 books.