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Answer: The point estimate for the mean is <u>2.59</u> and the margin of error is <u>0.13</u> .
Step-by-step explanation:
The confidence interval for population mean is given by :-
, where E is the margin of error .
Given : At the end of one year, the store used the weekly sales information to construct a 95% confidence interval for the mean number of emeralds sold per week.
The confidence interval they calculated was (2.46,2.72) .
The lower limit of the confidence interval : (1)
The upper limit of the interval : (2)
Adding (1) and (2) , we get
Now, Subtracting (1) from (2) , we get
Hence, the point estimate for the mean is 2.59 and the margin of error is 0.13 .