Parking at a Large University Can Be Extremely Difficult at Times

Multiple Choice

Parking at a large university can be extremely difficult at times. One particular university is trying to determine the location of a new parking garage. As part of their research, officials are interested
In estimating the average parking time of students from within the various colleges on campus. A
Survey of 338 College of Business (COBA) students yields the following descriptive information
Regarding the length of time (in minutes) it took them to find a parking spot. Note that the ʺLo
95%ʺ and ʺUp 95%ʺ refer to the endpoints of the desired confidence interval. $$\begin{array} { l c c c c c } \text { Variable } & \text { N } & \text { Lo 95\% CI } & \text { Mean } & \text { Up 95\% CI } & \text { SD } \\\text { Parking Time } & 338 & 9.1944 & 10.466 & 11.738 & 11.885\end{array}$$ Explain what the phrase ʺ95% confidentʺ means when working with a 95% confidence interval.

A) In repeated sampling, 95% of the population means will fall within the interval created.
B) In repeated sampling, 95% of the intervals created will contain the population mean.
C) 95% of the observations in the population will fall within the endpoints of the interval.
D) In repeated sampling, 95% of the sample means will fall within the interval created.