Construct a 95% confidence interval for the population mean annual starting salary for UK graduates. (ii) On the basis of your confidence interval, do you believe the magazine article’s claim that the average annual starting salary for UK graduates is £29,000?
Construct a 95% confidence interval for the population mean annual starting salary for UK graduates. (ii) On the basis of your confidence interval, do you believe the magazine article’s claim that the average annual starting salary for UK graduates is £29,000?
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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b) A recently published magazine article claims that the average annual starting salary for UK graduates is £29,000. In a random sample of 300 recent UK graduates, the average annual starting salary was £26,500 with a standard deviation of £7,825.
(i) Construct a 95% confidence interval for the population mean annual starting salary for UK graduates.
(ii) On the basis of your confidence interval, do you believe the magazine article’s claim that the average annual starting salary for UK graduates is £29,000? Explain your answer
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