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It costs you $8 to draw a sample of size n=1 and measure the attribute of interest. You have a budget of $1,500. Complete parts

It costs you $8 to draw a sample of size n=1 and measure the attribute of interest. You have a budget of $1,500. Complete parts a and b below.

a. Do you have sufficient funds to estimate the population mean for the attribute of interest with a95% confidence interval 5 units inwidth? Assume =14.

Select the correct choice below and fill in the answer box

b. If you used a90% confidencelevel, would your answer to part achange? Explain.

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