A local university administers a comprehensive examination to the recipients of a B.S. degree in Business Administration. A sample of 5 examinations is selected at random and scored. The scores are shown below.
Grade
54
68
75
80
98
a. Compute the sample mean and the standard deviation.
b. Determine the margin of error at 95% confidence.
c. At 95% confidence, determine an interval for the mean of the population.
At 98% confidence, determine an interval for the mean of the population.