Question: Each year, the trade magazine Quality Progress publishes a study of subscribers' salaries. One year, the 223 vice presidents sampled had a mean salary of

Each year, the trade magazine Quality Progress publishes a study of subscribers' salaries. One year, the 223 vice presidents sampled had a mean salary of $116,754 and a standard deviation of $39,185. Suppose the goal of the study is to estimate the true mean salary of all vice presidents who subscribe to Quality Progress.
a. If 2,193 vice presidents subscribe to Quality Progress, estimate the mean with an approximate 95% confidence interval.
b. Interpret the result.

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