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TABLE 8-6 A Sample of Salary Offers (In Thousands of Dollars) Given

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TABLE 8-6
A sample of salary offers (in thousands of dollars) given to management majors is: 28, 31, 26, 32, 27, 28, 27, 30, 31, and 29. Using this data to obtain a 95% confidence interval resulted in an interval from 27.5 to 30.3.
-Referring to Table 8-6, the confidence interval obtained is valid only if the distribution of the population of salary offers is normal.


Definitions:

Sampling Distribution

A probability distribution for a designated statistic, constructed from a random sample, to assist in making inferences about the general population.

Fluorescent Light Bulb

A type of light bulb that utilizes fluorescence to produce light, known for its efficiency compared to incandescent bulbs.

Standard Deviation

A statistical tool that identifies the level of inconsistency or deviation among values in a dataset.

Adult Males

A demographic group defined by individuals who are male and have reached the age of majority, often considered for research or statistics.

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