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Textbook ExpertVerified Tutor
11 Nov 2021

Given information

Given:

The recent survey estimates with

The point estimate for mean U.S. household income and the error bound for mean U.S. household income.

Step-by-step explanation

Step 1.
The confidence interval U.S. household income,
The error bound is calculated from the formula,
                   
Simple mean is calculate using the formula,
                   
Error bound for mean is and simple mean is

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Introductory Statistics
OER Edition, 2013
Openstax
ISBN: 9781938168208

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