A study of 25 graduates of four-year colleges by the American
Banker's Association revealed the mean amount owed by a
student in student loans was $14,381. Previous studies have found
that the standard deviation is $1,892.
(2 Points) a. Construct an 96% confidence interval for the
population mean. Include the formula, and the range.
(1 Points) b. Name 2 ways you can reduce the Margin of
Error.
(1 Point) c. Is it reasonable to conclude that the mean of the
population is actually $15,000? Why or why not.