A random sample of 37 MBAs working in New York revealed that their mean annual salary was $132,000. Suppose that the population standard deviation o is $31,000 but that the population mean u is unknown. What is the point estimate (i.e. the "best guess") of the mean salary μ of all MBAs in this city? O $99,000 O $132,000 O $116,000 O $31,000

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A random sample of 37 MBAs working in New York revealed that their mean annual salary
was $132,000. Suppose that the population standard deviation o is $31,000 but that the
population mean μ is unknown. What is the point estimate (i.e. the "best guess") of the mean
salary μ of all MBAs in this city?
O $99,000
O $132,000
O $116,000
O $31,000
Transcribed Image Text:A random sample of 37 MBAs working in New York revealed that their mean annual salary was $132,000. Suppose that the population standard deviation o is $31,000 but that the population mean μ is unknown. What is the point estimate (i.e. the "best guess") of the mean salary μ of all MBAs in this city? O $99,000 O $132,000 O $116,000 O $31,000
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