Question
I am struggling with finding the confidance interval. for example, A banker wants to know the mean amount of mortgage paid per month by homeowners
I am struggling with finding the confidance interval. for example, A banker wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 118 homeowners selected from this area showed that they pay an average of $1579 per month for their mortgages. The population standard deviation of such mortgages is $211.
Find a 99% confidence interval for the mean amount of mortagages paid per month by all homeowners in this area. Round your answers to two decimal places.
Can you show me the steps so that I can understand because most of the homework is finding this.
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