Warren County Telephone Company claims in its annual report that "the typical customer spends $59 per month on local and long-distance service." A sample of 12 subscribers revealed following amounts spent last month.
$64
$64
$64
$67
$56
$64
$67
$65
$65
$53
$53
$65
(a) Determine the point estimate of the population mean? (Round your answer to 3 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Estimated population mean $
(b) Develop a 98 percent confidence interval for the population mean. (Round your answers to 3 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Confidence interval for the population mean $________ and $______