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Lisa is conducting a study to determine how well Memphians have recovered from the recession.Her sample consists of 1,000 Memphis residents.She knows from census data
Lisa is conducting a study to determine how well Memphians have recovered from the recession.Her sample consists of 1,000 Memphis residents.She knows from census data that the mean household income in Memphis is $32,285 with a standard deviation of $5,645. However, her sample mean is only $31,997 with a standard deviation of $6,005.
- Calculate the 95% confidence interval around Lisa's sample mean.List the upper bound of her confidence interval (i.e. the higher value) first and the lower bound of her confidence interval (i.e. the lower value) second.
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