Question

The following table shows the annual returns (in percent) for CD rate from a local bank...

The following table shows the annual returns (in percent) for CD rate from a local bank in 2016 through 2020.

Year

CD rate

2016

2.55

2017

-1.75

2018

2.80

2019

4.25

2020

1.80

a. The point estimate of σ2 is ________

b. 95% confidence interval of σ2 is between________and________

(Keep the answer in 2 decimal places).

(no excel work)

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