From a population of 540, a sample of 60 individuals is taken. From this sample, the mean is found to be 6.2 and the standard deviation 1.368.
- Find the estimated standard error of the mean.
- Construct a 96 percent confidence interval for the mean.
- If the price per kwh is $0.12, within what interval can Gwen be 68.3 percent certain that the average August cost for electricity will lie?
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