A pharmacist reads that a 95% confidence interval for the average price of a particular prescription drug is $30.50 to $35.50. Asked to explain the meaning of this, the pharmacist says “95% of all pharmacies sell the drug for between $30.50 and $35.50.” Is the pharmacist correct? Explain your response.
A pharmacist reads that a 95% confidence interval for the average price of a particular prescription drug is
$30.50 to $35.50. Asked to explain the meaning of this, the pharmacist says “95% of all pharmacies sell the drug for between $30.50 and $35.50.” Is the pharmacist correct? Explain your response.
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