pick a confidence level for the below data, i.e. 90%, 99%, 97%, any other confidence level is fine.calculate another T-confidence interval and interpret the results.Compare the results to that of the initial 95%, how much do they differ?How useful can this type of information be when you go to buy a new car, or even a house?

T-Confidence Interval

Mean

$26,619

SD

7863.486448

TCV

2.262157

n

10

ME

5625.1993

Lower

20993.8

Upper

32244.2

Confidence

95%

As shown in the table above, my mean is $26,619, the standard deviation is 7863.49 and the t-critical value is 2.26. After plugging in our margin of error, 5625.198931, into the equation, we will have to subtract or add it to the mean. That creates the lower bound of $20,993.80 and the upper bound of $32,244.20. Since the mean is in between those bounds, the 95% confidence interval is correct.