ASSUME ALL CONDITIONS HAVE BEEN MET FOR THE FOLLOWING PROBLEMS. Show all formula s, work, justifications and conclusions for each problem.
You want to estimate how much cash you are going to haul-in from graduation gifts, so you ask a random
sample of 8 people from your extended family who have recently graduated. They had a sample mean of
$1231 with a standard deviation of $71. Use this to construct a 90% confidence interval for the true mean
amount your family gives to graduate
a) On a separate sheet of paper, show all steps needed to solve for the confidence interval.
b) Enter on the computer write the inequality
c) On the computer state the conclusion