Does displaying positive emotions (e.g., joy) during a funding pitch help an entrepreneur gain more financial support? This was the question of interest in a study published in the Academy of Management Journal (December 2019). As part of the analysis, the researchers collected data on the number of crowdfunding backers for each in a sample of 1,460 entrepreneurial projects pitched on the internet via a video. (A crowdfunding backer is a person who pledges money to the project.) The data, saved in the BACKERS file, were analyzed using Minitab and the resulting printout is shown below. Define μ as the true mean number of crowdfunding backers for all entrepreneurial projects pitched via the internet.

a. Locate a 90% confidence interval for m on the printout.

b. Give a practical interpretation of the confidence interval.

c. Explain the meaning of the phrase “90% confident” when interpreting the interval. Do not use the word “confident” in your answer.

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Descriptive Statistics N Mean StDev SE Mean 1460 181.0 585.7 15.3 μ: mean of Backers 90% CI for μ (155.8, 206.2)