he Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, it also entails promising careers with lucrative salaries. A student of finance is curious about the average salary of a CFA charterholder. He takes a random sample of 36 recent charterholders and computes a mean salary of $129,000 with a standard deviation of $22,000. Use this sample information to determine the 99% confidence interval for the average salary of a CFA charterholder. (You may find it useful to reference the t table. Round final answers to the nearest whole number.)
The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, it also entails promising careers with lucrative salaries. A student of finance is curious about the average salary of a CFA charterholder. He takes a random sample of 36 recent charterholders and computes a mean salary of $129,000 with a standard deviation of $22,000. Use this sample information to determine the 99% confidence interval for the average salary of a CFA charterholder. (You may find it useful to reference the t table. Round final answers to the nearest whole number.)
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