Question

Consumer Confidence An increase in the rate of consumer savings is frequently tied to a lack of confidence in the economy and is said to be an indicator of a recessional tendency in the economy. A random sampling of n = 200 savings accounts in a local community showed a mean increase in savings account values of 7.2% over the past 12 months, with a standard deviation of 5.6%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. Find the margin of error for your estimate.

Answer 1

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions here. 

 mean stated in problem - 7.2%. 
std error of mean is 5.6/sqrt (200)=0.3959%. 
If the margin of error is 95% so it should be 1.96(0.3959) = 0.78%.