34. A recent surveyof 50 executives who were laid off from their previous position revealed it took a meanof 26 weeks for them to find another position.
The standard deviationof the sample was 6.2 weeks.
Need the following answered, please see attached worksheet:
1) Construct a 95 percent confidence intervalfor the population
2) Is it reasonable that the population mean is 28 weeks?
3)Justify your answer.
The solution provides step by step method for the calculation of confidence interval for mean . Formula for the calculation and Interpretations of the results are also included.