An economist is interested in studying the incomes of consumers in a particular region. The population standard deviation is known to be $32,000. A random sample of 50 individuals resulted in an average income of $71,000. What is the 99% confidence interval for the average incomes?

Select one:

between $62,130 and $79,870.

between $63,556 and $78,444.

between $59,342 and $82,658.

between $60,469 and $81,531.