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Confidence interval for the average salary

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The Chartered Financial Analyst (CFA®) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, it also entails promising careers with lucrative salaries. A student of finance is curious about the average salary of a CFA® charterholder. He takes a random sample of 36 recent charterholders and computes a mean salary of $162,000 with a standard deviation of $36,000. Use this sample information to determine the lower bound of the 90% confidence interval for the average salary of a CFA® charterholder. (Round the "t" value to 3 decimal places)

Reference no: EM132394089

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