Answer:
The true estimate of the average annual income of all 700 families living in a four square block section lies within the 92% confidence interval below
Step-by-step explanation:
From the question we are told that
The sample size is n = 50
The sample mean is
The population standard deviation is
From the question we are told the confidence level is 92% , hence the level of significance is
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Generally from the normal distribution table the critical value of is
Generally the margin of error is mathematically represented as
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Generally 92% confidence interval is mathematically represented as
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So the true estimate of the average annual income of all 700 families living in a four square block section lies within the 92% confidence interval