In order to construct a 99% Confidence Interval, we have to find the margin of error (ME), and we can use the following formula: 2.579*SE, where SE is computed with the image that's attached to this problem.  Using SE = 0.049, find ME for the 99% Confidence Interval.

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Q: Hi. How do you calculate this problem? Is there a way to do this on a TI-83? Thanks.

A: Note:Hi, we are solving this problem with manual calculations. Thank you.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.