Question: Refer to Exercise 5.67. After a confrontation with the teachers union, the state promised to make reimbursements within 60 days. Monitoring of the next 40

Refer to Exercise 5.67. After a confrontation with the teachers’ union, the state promised to make reimbursements within 60 days. Monitoring of the next 40 resignations yields an average of 58 days, with a standard deviation of 10 days. If we assume that these 40 resignations represent a random sample of the state’s future performance, estimate the mean reimbursement time using a 99% confidence interval.

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