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TABLE 8-5
A sample of salary offers (in thousands of dollars) given to management majors is: 48, 51, 46, 52, 47, 48, 47, 50, 51, and 59. Using this data to obtain a 95% confidence interval resulted in an interval from 47.19 to 52.61.
-Referring to Table 8-5, 95% of the time, the sample mean salary offer to management majors will fall between 47.19 and 52.61.
Compromise
A solution to a disagreement where all parties involved agree to concessions to reach a mutually acceptable outcome.
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