Answer:
1.01 < µ < 1.03
Step-by-step explanation:
We want to construct a 95% confidence interval. Our sample size is 25, so we use a t-value. The degrees of freedom are 24 (always one less than the sample size).
The t-value we get is: 2.064
We have:
x = 1.02
σ = 0.03
See the attached photo for the construction of the confidence interval...
