Banking fees have received much attention during the recent economic recession as banks look for ways to recover from the crisis. A sample of 38

customers paid an average fee of $11.72 per month on their interest-bearing checking accounts. Assume the population standard deviation is $1.51.

Complete parts a and b below.

a. Construct a

95% confidence interval to estimate the average fee for the population.The95%

confidence interval has a

lower limit of =

upper limit of =

(Round to the nearest cent as needed.)

b. What is the margin of error for this interval?

(Round to the nearest cent as needed.)