Question

Suppose that we have constructed a 95% confidence interval for the true mean salary of graduating business majors: (50k, 70k). Based on this interval, what was the sample mean salary of our sampled business majors?a. 70kb. 55kc. 65kd. 60ke. 50k

Answer 1

d. 60k

Explanation:

The sample mean is the midpoint between the lower and the upper limit of the confidence interval, that is, the sum of the lower and the upper limit divided by 2.

In this problem, we have that:

Lower limit: 50k

Upper limit: 70k

(50k + 70k)/2 = 60k

So the correct answer is:

d. 60k