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A sample of ultimate tensile strength observations (ksi) was taken. Use the accompanying descriptive statistics output from Minitab to calculate a 99% lower confidence bound

A sample of ultimate tensile strength observations (ksi) was taken. Use the accompanying descriptive statistics output from Minitab to calculate a 99% lower confidence bound for true average ultimate tensile strength, and interpret the result. (Round your answer to two decimal places.)

N Mean Median TrMean StDev SE Mean Minimum Maximum Q1 Q3
153 135.48 135.49 135.50 4.47 0.36 122.20 147.60 133.85 136.45

We are 99% confident that the true average ultimate tensile strength is greater than ksi.

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