Banking fees have received much attention during the recent economic recession as banks look for ways to recover from the crisis a sample of 35 customers paid an average fee of $11.72 per month on their interest-bearing checking accounts. Assume the population standard deviation is $1.53 Complete parts a and below.
a. Construct a 99% confidence interval to estimate the average fee for the population
The 99% confidence interval has a lower limit of $ I and an upper limit of $
(Round to the nearest cent as needed)
b. What is the margin of error for this interval?
s(Round to the nearest cent as needed)