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1. Suppose a population consists of four elements, A, B, C, and D. The value of...

1. Suppose a population consists of four elements, A, B, C, and D. The value of each element is as follows.

Population element A B C D
Value 15,000 22,000 25,000 40,000

To examine the confidence interval of the population mean, you select a random sample of size two. Suppose you happen to select (A, B) as your sample. Calculate the 95% confidence interval.

2. Suppose a population consists of four elements, A, B, C, and D. The value of each element is as follows.

Population element A B C D
Value 15,000 22,000 25,000 40,000

To examine the confidence interval of the population mean, you select a random sample of size two. Suppose you happen to select (C, D) as your sample. Calculate the 95% confidence interval.

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