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 25 recent charterholders and computes a mean salary of $139,000 with a standard deviation of $25,000. Use this sample information to determine the 90% 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 25 recent charterholders and computes a mean salary of $139,000 with a standard deviation of $25,000. Use this sample information to determine the 90% 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Chartered Financial Analyst (CFA) designation is fast becoming
a requirement for serious investment professionals. Although
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 25 recent charterholders and
computes a mean salary of $139,000 with a standard deviation of
$25,000. Use this sample information to determine the 90%
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.)
Confidence
interval
X Answer is complete but not entirely correct.
145,820 X to
170,180 X
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