Question: 3. Using the data from the 'Data' tab in this workbook, construct a 99% confidence interval for the population mean. Assume that your data is

3. Using the data from the 'Data' tab in this workbook, construct a99%confidence interval for the population mean. Assume that your data is normally distributed and is unknown. Include a statement that correctly interprets the confidence interval in context of the scenario.

  • Mean$71897.40,
  • Median$66,525,
  • ModeMode: $71,420
  • Midrange
  • RangeRange: $ 167,760
  • Variance546,033,521.95
  • Standard deviation$23,367.36
Calculations/Values
Mean
Standard Deviation
n
Critical Value
Margin of Error
Lower Limit
Upper Limit

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