In: Math
Solution :
Given that,
Sample size = n = 60
a.
Standard error = / n = 2350 / 60 = 303.38
b.
Z/2 = 1.96
Margin of error = E = Z/2* ( /n)
= 1.96 * (2350 / 60)
Margin of error = E = 594.63
c.
At 95% confidence interval estimate of the population mean is,
- E < < + E
24500 - 594.63 < < 24500 + 594.63
23905.37< < 25094.63
lower bounds = 23905.37
Upper bounds = 25094.63