SOLUTION: An economics professor randomly selected 100 millionaires in the United States. The average age of these millionaires was 54.8 years; it is known that the population standard devi

Question 917163: An economics professor randomly selected 100 millionaires in the United States. The average age of these millionaires was 54.8 years; it is known that the population standard deviation is σ = 7.9 years.
What is the 95% confidence interval for the mean age, μ, of all United States millionaires?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
ME = 1.96(7.9/sqrt(100)) (round to nearest tenth as is the SD)
CI: ( 54.8-ME, 54.8 + ME)
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