Credit scores are used by banks, financial institutions, and retailers to determine one's trustworthiness, and their ability to pay their credit card, when he/she is given a credit card. The higher the credit score, the better the credit (and the more financially trustworthy) a consumer is. In light of the current economic downturn, an economist claims that the credit score of Canadians between the ages of 25 to 40 has remained the same. Prior to the current economic downturn, the mean credit score for Canadians between the ages of 25 to 40 was 698. A random sample of n=20 Canadians between the ages of 25 to 40 was taken, the mean was found to be 701, with a standard deviation of 50.

(b) Find a 93% confidence interval for . Use at least 4 digits after the decmial if rounding.

Minimum lower bound =

when =7%

Maximum upper bound =

when =7%