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2. (20 pts) You have collected weekly earnings and age data from a sub-sample of 1,744 individuals using the Current Population Survey in a given

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2. (20 pts) You have collected weekly earnings and age data from a sub-sample of 1,744 individuals using the Current Population Survey in a given year. a. (6 pts) Given the overall mean of $434.49 and a standard deviation of $294.67, construct a 99% confidence interval for average earnings in the entire population. If you constructed a 90% confidence interval instead, would it be smaller or larger? b. (7 pts) When dividing your sample into people 45 years and older, and younger than 45, the information shown in the table is found. Age Category Average Standard N Earnings Deviation Age 2 45 $488.87 $328.64 507 Age

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