Question $1$

Given the following information:

$\stackrel{}{x}=550,=12,n=50,$

a$)(8$ points$)$ determine the $98\%$ confidence interval estimate of the population mean,

b$)(7$ points$)$ determine the $90\%$ confidence interval estimate of the population mean,

c$)(5$ points$)$ compare and comment on your results found in Parts $($a$)$ and $($b$)$ of this question.