Recently,a University Surveyed Recent Graduates of the English Department for Their

question 34

Multiple Choice

Recently,a university surveyed recent graduates of the English Department for their starting salaries.Four hundred graduates returned the survey.The average salary was $25,000 with a standard deviation of $2,500.A 95% confidence interval is constructed.What does the confidence interval mean?

• A)The population mean is in the interval
• B)The population mean is not in the interval
• C)The likelihood that any confidence interval based on a sample of 400 graduates will contain the population mean is 0.95
• D)There is a 5% chance that the computed interval does not contain the population mean

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Definitions:

Net Sales

The amount of a company's gross sales minus returns, allowances, and discounts.

Operating Income

A measure of the profit a company generates from its operational activities, excluding revenues and expenses from non-operational activities.

Discontinued Operations

Parts of a company's business that have been sold or otherwise disposed of, with their financial results reported separately from ongoing operations.

Cost of Goods Sold

The immediate expenses linked to the creation of a company's sold products, encompassing both the costs of materials and labor.