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QUESTION
A market researcher selects a simple random sample of n= 100 customers from a population of 2 million customers.
A market researcher selects a simple random sample of n= 100 customers from a population of 2 million customers. After analyzing the sample, she states that she has 95% confidence that the mean annual income of the 2 million customers is between $70,000 and $85,000. Explain the meaning of the statement.
