Recently, a University Surveyed Recent Graduates of the English Department

question 47

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. The population standard deviation is known to be $2,500.
Interpret the results of the 95% confidence interval.

• 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:

Good Faith

Acting with honesty and without intent to defraud or seek an unfair advantage, particularly in contractual or negotiation settings.

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Materiality

The significance of an event, fact, or piece of information in influencing the decision-making of users, notably in the context of financial reporting or legal proceedings.

Breach

The violation or failure to perform any term of a contract, agreement, or obligation either by action or failure to act.