The undergraduate grade point average (GPA) for students admitted to the top graduate business schools was 3.37 (Best Graduate Schools, U.S. News and World Report, 2001). Assume this estimate was based on a sample of 120 students admitted to the top schools. Using past years' data, the population standard deviation can be assumed known with σ = 0.28. What is the 95% confidence interval estimate of the mean undergraduate GPA for students admitted to the top graduate business schools?
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