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SCENARIO 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 Scenario 8-5,95% of the sample means will fall between 47.19 and 52.61.
Computed
Calculated or processed using a computer or computational method.
NOIR
An acronym representing four levels of measurement in statistics: Nominal, Ordinal, Interval, and Ratio.
Nominal
A system of classification based on names rather than scales or rank ordering—for example, press, radio, and television.
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