In order to estimate the average electric usage per month, a sample of 196 houses was selected,
Question:
a. Determine the standard error of the mean.
b. With a 0.95 probability, determine the margin of error.
c. If the sample mean is 2,000 KWH, what is the 95% confidence interval estimate of the population mean?
d. What size sample should be selected to obtain a 0.95 probability that the margin of error is 30 KWH or less?
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