Question

31. A curious accountant at a large firm would like to know if moncy can buy happiness. She selects a random sample of 30 of her wealthy clients and contacted them to ask "On a scale of 1-100, how happy are you?" The resulting 95 percent confidence interval for the true mean happiness rating for all wealthy customers is (67.5, 89.5). Which of the following statements best summarizes the meaning of 95% confidence?​

Answer 1

(E) - About 95% of all random samples of 30 wealthy customers from this population would result in a 95 percent confidence interval that captures the population mean happiness rating.

Explanation:

The correct answer is (E). When we select a random sample from a population and use it to construct a confidence interval, the confidence level tells us what proportion of all such random samples we can expect to give confidence intervals that will capture the population parameter.