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A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,048, $154,144). Give a practical interpretation of the interval.

A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,048, $154,144). Give a practical interpretation of the interval.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 23PPS
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A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,048, $154,144). Give a practical interpretation of the interval. 90% of all CEOS in the electronics industry have salaries that fall between $139,048 to $154,144 We are 90% confident that the mean salary of all CEOS in the electronics industry falls in the interval $139,048 to $154,144. We are 90% confident that the mean salary of the sampled CEOS falls in the interval $139,048 to $154,144. 90% of all CEOS in the electronics industry have salaries that fall between $139,048 to $154,144
Transcribed Image Text:A 90% confidence interval for the average salary of all CEOS in the electronics industry was constructed using the results of a random survey of 45 CEOS. The interval was ($139,048, $154,144). Give a practical interpretation of the interval. 90% of all CEOS in the electronics industry have salaries that fall between $139,048 to $154,144 We are 90% confident that the mean salary of all CEOS in the electronics industry falls in the interval $139,048 to $154,144. We are 90% confident that the mean salary of the sampled CEOS falls in the interval $139,048 to $154,144. 90% of all CEOS in the electronics industry have salaries that fall between $139,048 to $154,144
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