At 95% confidence, what is the margin of error? b. Construct the 95% confidence interval for the population mean amount spent annually on a debit card.

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U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $9,800 Assume that this average was based on a sample of 100 consumers and that the population standard deviation is $300.

a. At 95% confidence, what is the margin of error?

 

b. Construct the 95% confidence interval for the population mean amount spent annually on a debit card.

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