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A city planner would like to estimate the true mean annual income of all households in the city. She selects a random sample of 50 households and determines that the 99% confidence interval for the true mean annual income of all households in the city to be $42,000–$68,000. Which of these statements is a correct interpretation of the confidence level?

Answer :

Answer:

If many random samples of size 50 are selected from all households in the city, approximately 99% of the intervals would capture the true mean household income.

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