Question: Consider the population of ALL the pennies in the U.S. Suppose that you want to learn about the mean age ALL pennies but you can only afford to take a sample of 25 pennies. Assume that the ages of pennies are approximately normally distributed with = 6.23 years. Mean: 21.44 b. Is this mean you calculated in part (a) a parameter or a statistic? What symbol represents it? c. Do you know the value of the mean age of pennies in your sample? If so, what's that value? d. Is the mean age of all pennies a parameter or a statistic? What symbol represents it? e. Do you know the value of mean age of all pennies? If so, calculate it. f. Clearly the students in this class will get many different values for their sample mean. What statistical term refers to this phenomenon? g. Check the conditions for calculating the confidence interval. Are the ages of all pennies normally distributed? Or is > 30?

h. Construct a 95% confidence interval using the sample values to estimate the mean age of all pennies.