A recruiter estimates that if you are hired to work for her company and you put in a full week at the commissioned sales representative position she is offering, you will make "$525 plus or minus $250, 80% of the time." She adds, "It all depends on you!" If the $525 is the mean, state what the following figures stand for in terms of the confidence interval around this mean.
- What does the "$525 plus or minus $250" mean?
- What does the "80% of the time" mean?