A 95% prediction interval for SALARY when GMAT-600 is approximately (537,915, $5

Question

A 95% prediction interval for SALARY when GMAT-600 is approximately (537,915, $51,984). Interpret this interval A) We are 95% confident that the mean SALARY of all top business school graduates with GMATs of 600 will fall between $37,915 and $51,984. B) We are 95% confident that the SALARY of a top business school graduate with a GMAT of 600 will fall between $37,915 and $51,984. increase in GMAT will fall between $37,915 and $51,984. graduate will fall between $37,915 and $51,984 C) We are 95% confident that the increase in SALARY for a 600-point D) We are 95% confident that the SALARY of a top business school

Explanation / Answer

Solution:-

1) A) We are 95% confident that the mean salary of all top bussiness school graduates with GMATs of 600 will fall between $37,915 and $51,984.

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