A 90% confidence interval for the average salaryof all CEOS in the electronics industry wasconstructed using the results of a random surveyof 45 CEOS. The interval was ($139,048,$154,144). Give a practical interpretation of theinterval.90% of all CEOS in the electronics industryhave salaries that fall between $139,048 to$154,144We are 90% confident that the mean salaryof all CEOS in the electronics industry fallsin the interval $139,048 to $154,144.We are 90% confident that the mean salaryof the sampled CEOS falls in the interval$139,048 to $154,144.90% of all CEOS in the electronics industryhave salaries that fall between $139,048to $154,144

Confidence interval: It is defined as the range which contains the value of true population…

Answered: A 90% confidence interval for the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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.