Snacks Inc. has a mean expected return of 15%, with a standard deviation

of 8%. The

CFO is going to the bank to discuss a large loan. The banker asks what range of returns,

with a 95% confidence level, will contain Snacks true expected returns next year.

a. (

-

1%, 31%)

b. (7%, 23%)

c. (7%, 15%)

d. Cannot calculate due to the

lack of information

can you help explain how to solve this problem?