Question: a. If = 125, = 24, and = 36, construct a 99% confidence interval estimate of the population mean . b. In deciding what salaries

a. If = 125, = 24, and = 36, construct a 99% confidence interval estimate of the population mean .

b. In deciding what salaries to pay new recruits with Honours degrees in economics, a company reviews data on industry salary rates. The person responsible for the analysis says that she has 95% confidence that salaries are between $120,000 and $150,000. Explain the meaning of this statement. with solution

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If X = 125, cr = 24, and n = 36, construct a 99% confidence interval estimate for the population mean, /A.

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