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Estimate interval estimate of the population mean

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Reference no: EM131822027

Suppose a random sample of 100 individuals is taken and that average wage for that sample is $1,000 per week. Assume we know the population standard deviation of wages per week (σ) is $300. 

1. What is the upper and lower bound for a 95% confidence estimate interval estimate of the population mean?

2. What is the value of the margin of error for the 95% confidence interval estimate of the population mean?

3. What is the upper and lower bound for a 99% confidence estimate interval estimate of the population mean?

Reference no: EM131822027

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