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Interval estimate of the population mean

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Suppose a random sample of 25 individuals is taken and that average wage for that sample is $1,000 per week and the sample standard deviation of wages per week (s) is found to be $300.

1. Provide the lower and upper bound of a 95% confidence interval estimate of the population mean, µ.

2. Provide the lower and upper bound of an 80% confidence interval estimate of the population mean, µ.

3. Provide the lower and upper bound of a 99% confidence interval estimate of the population mean, µ.

4. What is the value for the marginal error of a 99% confidence interval estimate of the population mean, µ?

Reference no: EM131821976

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