Answer:
CI = 29.8 ± 3.53
Critical value is z = 2.58
Step-by-step explanation:
First of all let's find margin of error. It is given by the formula;
ME = zσ/√n
We are given;
Standard deviation; σ = 3.62
Sample size; n = 7
Mean; x¯ = 29.8
Now, z-value for 99% Confidence level is 2.58
Thus;
ME = (2.58 × 3.62)/√7
ME = 3.53
CI is written as;
CI = x¯ ± ME
CI = 29.8 ± 3.53
Critical value is z = 2.58
A. Taking out a new car loan
Answer:
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