Instruction 8-6
A sample of salary offers (in thousands of dollars) given to students majoring in management is: 28, 31, 26, 32, 27, 28, 27, 30, 31, and 29. Using this data to obtain a 95% confidence interval resulted in an interval from 27.5 to 30.3.
-Referring to Instruction 8-6,a 99% confidence interval for the mean of the population from the same sample would be wider than 27.5 to 30.3.

Question

Quizplus · Accepted Answer

A 99% confidence interval would be wider than a 95% confidence interval, as it would have a larger margin of error to account for the increased level of confidence. Therefore, the interval for a 99% confidence interval would be wider than 27.5 to 30.3.

Instruction 8-6 A Sample of Salary Offers (In Thousands of Dollars) Given