Suppose the grade point average (GPA) of a random sample of 50 college graduates was determined to be 2.48 with a standard deviation of 0.41. Construct a 99% confidence interval for the mean GPA of...

Extracted text: Suppose the grade point average (GPA) of a random sample of 50 college graduates was determined to be 2.48 with a standard deviation of 0.41. Construct a 99% confidence interval for the mean GPA of all college graduates. Interpret the result. 4. 5. To estimate the mean hourly pay of pay for employees of a large supermarket chain, how many employees must be sampled if we wish to estimate the mean hourly wage to within $1.50 with a confidence level of 90%. Assume a population standard deviation of $6.25.