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Using the z-distribution, it is found that the lower limit of the 95% confidence interval is of $99,002.
<h3>What is a z-distribution confidence interval?</h3>The confidence interval is:
In which:
is the sample mean.
- z is the critical value.
- n is the sample size.
is the standard deviation for the population.
In this problem, we have a 95% confidence level, hence, z is the value of Z that has a p-value of
, so the critical value is z = 1.96.
The other parameters are given as follows:
Hence, the lower bound of the interval is:
The lower limit of the 95% confidence interval is of $99,002.
More can be learned about the z-distribution at brainly.com/question/25890103
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