A tax assessor wants to assess the mean property tax bill for all homeowners in a certain state. From a survey ten years ago, a sample of 28 property tax bills is given below. Assume the property tax bills are approximately normally distributed. Use Excel to construct a 95% confidence interval for the population mean property tax bill. Round your answers to two decimal places and use increasing order.
Using the excel formula, “=AVERAGE(A1:A28)” mean, x-bar is obtained as 1,390.754.
Using the excel formula, “=STDEV.S(A1:A28)” standard deviation, s is obtained as 528.266.
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