Recently, a University Surveyed Recent Graduates of the English Department

question 117

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 $2,500. What is the 95% confidence interval for the mean salary of all graduates from the English Department?

• A) [$22,500, $27,500]
• B) [$24,755, $25,245]
• C) [$24,988, $25,012]
• D) [$24,600, $25,600]

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Definitions:

Price-Earnings Ratios

A metric used to value a company by comparing its current share price to its per-share earnings.

Bell Shaped Distribution

A type of distribution, commonly known as a normal distribution, characterized by its symmetrical, bell-shaped curve where most occurrences take place around the mean.

Standard Deviation

A measure of the dispersion or spread of a set of values, showing how much variation there is from the average (mean).

Range

The difference between the largest and smallest values in a set of data.