Question: A recent study found that consumers are making average monthly debt payments of $983 (Experian.com, November 11 , 2010). The accompanying table shows a portion

A recent study found that consumers are making average monthly debt payments of $983 (Experian.com, November 11 , 2010). The accompanying table shows a portion of average debt payments for 26 metropolitan areas. The complete data set is on the text website and is labeled D e b t Paym ents.

City Debt Payments Washington, D.C. $1,285 Seattle 1,135 Pittsburgh 763 Source: www.Experian.com, November 1 1 , 2010.

a. Use Excel to calculate the mean and standard deviation for debt payments.

b. Construct a 90% and a 95% confidence interval for the population mean. Comment on the width of the intervals.

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