SOLUTION: The undergraduate GPA for students admitted to the top graduate business schools is 3.37. Assume this estimate is based on a sample of 120 students admitted to the top schools. Usi
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Question 752053: The undergraduate GPA for students admitted to the top graduate business schools is 3.37. Assume this estimate is based on a sample of 120 students admitted to the top schools. Using past years' data, the population standard deviation can be assumed known with .28. What is the 95% confidence interval estimate of the mean undergraduate GPA for students admitted to the top graduate business schools? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! The undergraduate GPA for students admitted to the top graduate business schools is 3.37. Assume this estimate is based on a sample of 120 students admitted to the top schools. Using past years' data, the population standard deviation can be assumed known with .28. What is the 95% confidence interval estimate of the mean undergraduate GPA for students admitted to the top graduate business schools?
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x-bar = 3.37
ME = 1.96*0.28/sqrt(120) = 0.0501
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95% CI: 3.37-0.0501 < u < 3.37+0.0501
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Cheers,
Stan H.
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