Examlex

Solved

SCENARIO 8-5 a Sample of Salary Offers (In Thousands of Dollars)given to Dollars)given

question 165

True/False

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.


Definitions:

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.

Related Questions