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Confidence interval of the population

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The dean of the College of Business at the University of La Verne has observed for several years and found that the probability distribution of the salary of the alumni's first job after graduation is normal. The college collected information from 250 alumni and finds that the mean of their salary is $50k. Assuming a 95% confidence level, please do the following:

1. Suppose that the standard deviation of the collected data from 250 alumni is $10k and the mean is $50k, please estimate the confidence interval of the population's average salary. (Hint: Hypothesis Testing and Confidence Interval - One sample; sample standard deviation is known)

Reference no: EM132157451

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