Question

Data Set Name Step 1 Standard Error 14,216.0114 Step 2 t Value 2.2280 Step 3 Interval...

Data Set Name
Step 1 Standard Error 14,216.0114
Step 2 t Value 2.2280
Step 3 Interval Estimate 677,404.4539 < Pop. Mean < 740,751.0006

Question - Step 3 Interval estimate ?

Homework Answers

Answer #1

Margin of error= standard error * t

= 14216.0114*2.2280

=31673.2734

Now, interval estimate

Lower bound:=( Sample mean)-(margin of error)

Here,

(Sample Mean)-(Margin of error)=67404.4539

Upper bound=(Sample mean)+(margin of error)

Here,

Sample mean + margin of error=740751.0006

Interpretation: the given confidence interval indicate that the true mean will lie within this interval

Here you have not provided much details like sample mean, or if question is asking what is sample mean then plug the value of margin of error and find it.

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