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 $158,000 with a standard deviation of $36,000. use this sample information to determine the 95% confidence interval for the average salary of a cfa charterholder.

(145820, 170180)

Step-by-step explanation:

Formula for confidence interval for population mean ( when population standard deviation is unknown ) :

, where n= sample size

= sample mean

s= sample standard deviation

= two-tailed t-value for significance level of ().

We assume that  the salary of CFA charterholders is normally distributed .

Let x represents the salary of CFA charterholders .

As per given , we have

n=  36

Degree of freedom : df = 35    [ df= n-1]

s=  $36,000

Significance level :

Using t-distribution table ,

95% confidence interval for the average salary of a CFA charterholders :-

Hence, the 95% confidence interval for the average salary of a CFA charterholder : (145820, 170180)

step-by-step explanation:

left be aligning the decimal points is required to not required see the number of digits to the right