A Sample of 400 Employees from a Particular Software Company $\$ 7288$

question 11

Multiple Choice

A sample of 400 employees from a particular software company had a mean monthly income of $\$ 7288$ with a standard deviation of $\$ 2763$ . Find the $95 \%$ confidence interval. Round your answer to the nearest dollar.

• A) \(\$ 6984 < \mu < \$ 7592\)
• B) \(\$ 7150 < \mu < \$ 7426\)
• C) \(\$ 7274 < \mu < \$ 7302\)
• D) \(\$ 7012 < \mu < \$ 7564\)

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Definitions:

Deposited

Referring to money that has been placed into a financial account for safekeeping or savings.

Time-Value

Refers to the concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Monetary Compensation

Payment provided to employees or workers in the form of money for their services or labor.

Labor Time

The duration of time workers spend performing their duties to produce goods or provide services.