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As part of an annual review of its accounts, a discount brokerage selects a random sample...

As part of an annual review of its accounts, a discount brokerage selects a random sample of 28 customers. Their accounts are reviewed for total account valuation, which showed a mean of $34,600, with a sample standard deviation of $8,650. (Use t Distribution Table.)

What is a 98% confidence interval for the mean account valuation of the population of customers? (Round your answers to the nearest dollar amount.)

Math   Statistics-And-Probability   
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Answer #1

df = 28 - 1 = 27

t score for 98% confidence interval = t0.01,27 = 2.473

confidence interval

                              

                              

                               = (30557 , 38643)

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