A survey of 85 randomly selected homeowners finds that they spend a mean of $67 per month on home maintenance. Construct and interpret a 99% confidence interval for the mean amount of money spent on home maintenance by all homeowners. Assume that the population standard deviation is $14 per month. Worth 5 points: 2 points for getting the correct margin of error, and 3 points for correctly stating and interpreting the confidence interval. Look at the examples in Chapter 8 of the eBook for details on how to state and interpret the confidence interval.

Margin of error: ____________

99% confidence interval: ___________________

Interpretation: