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Confidence interval for the population mean income

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A random sample of 900 individuals was performed that recorded each individual's income. The sample mean was found to be 51 and sample standard deviation was 13 (both measured in thousands of dollars). What is the bound on the error of estimation ( or margin of error) for the 95% confidence interval for the population mean income?

Your answer should be correct to three decimal places. Show all your work.

Reference no: EM131444678

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