for step 2b how do you get the lower and upper endpoint? the numbers in the boxe

Question

for step 2b how do you get the lower and upper endpoint? the numbers in the boxes are the correct answers as well.
I understand that you have to divide the standard deviation by the square root of n, which is 1511.241966. But how do you do the next step?

Styin E · According to American Consumer Credit Counseling statistics, credit card debt is the third largest source of household indebtedness. The following data were collected from a random sample of 12 credit cards. (See the example on page 354 of your textbook for a similar problem.) Credit Card Balance 5,617.00 7,667.00 6,160.00 8.391.00 2,250.00 4,865.00 15,415.00 18,003.00 17,599.00 14,617.00 9.262.00 9,699.00 9.962.08 $235.0957 2.198247142 4,242.11 Question 2 A Test the hypothesis that the mean credit card balance is no less than $6640 at a-0.005. Question 2 A Test the hypothesis that the mean credit card balance is no less than $

Explanation / Answer

In step 2b

98% confidence interval = x +- t0.02,11 (s/ sqrt(n))

sample mean = 9962.08

sample standard deviation s = 5235.0297

standard errror of sample mean = s/ sqrt(n) = 5235.0297/ sqrt(12) = 1511.242

critical t- value for dF = 11 and alpha = 98%

t11,0.98 = 2.7181 (from t - table)

98% CI = 9962.08 +- 2.7181 * 1511.242

= (5854.5277, 14069.639)

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