Nancy Joon, Inc has 1500 employees. A simple random sample of 81 employees was selected, and the individuals in the sample were asked how much they contribute (monthly) to their retirement accounts. The sample mean, , was $150 with a standard deviation, s, of $45
a. Estimate the standard error of the mean.
b. Develop an approximate 95% confidence interval for the population mean.
a. 4.86 (rounded)
b. $140.28 to $159.72
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