Calculate and interpret the margin of error construct and

Reference no: EM13623349

The Pew Research Center reports that the mean student loan amount in 2008 was $15,425 for students obtaining a bachelors degree. Suppose a sample of 400 students had a sample mean loan amount of $15, 425 and a sample standard deviation loan amount of $20,000. Do the following:

a. Find the critical value of t for a confidence interval 90% confidence.

b. Calculate and interpret the margin of error.

b. Construct and interpret a 90% confidence interval for the population mean student loan amount for all students obtaining a bachelors degree.

Reference no: EM13623349

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