Question

The Federal Election Commission (FEC) collects information about campaign contributions and disbursements for candidates and political committees each election cycle. A political action committee (PAC) is a committee formed to raise money for candidates and campaigns. A Leadership PAC is a PAC formed by a federal politician (senator or representative) to raise money to help other candidates’ campaigns.

The FEC has reported financial information for 556 Leadership PACs that were operating during the 2011-2012 election cycle. The following table shows the total receipts during this cycle for a random selection of 20 Leadership PACs.

$46,500.00	$0	$40,966.50	$105,887.20	$5,175.00
$29,050.00	$19,500.00	$181,557.20	$31,500.00	$149,970.80
$2,555,363.20	$12,025.00	$409,000.00	$60,521.70	$18,000.00
$61,810.20	$76,530.80	$119,459.20	$0	$63,520.00
$6,500.00	$502,578.00	$705,061.10	$708,258.90	$135,810.00
$2,000.00	$2,000.00	$0	$1,287,933.80	$219,148.30

x(bar)=251,854.23

s = $521,130.41

Use this sample data to construct a 96% confidence interval for the mean amount of money raised by all Leadership PACs during the 2011–2012 election cycle. Use the Student’s - distribution IN EXCEL

Answer 1

answered by: anonymous