Hoping to lure more shoppers downtown, a city built a new public parking garage in the central business distri. The city plans to pay for the structure through parking fees. During a two-month period (a total of 61 days) the mean of the daily fees collected was $1,264. From similar projects, the population standard deviation is known to be $150.
1. Calculation a 90% confidence interval, for the unknown population mean. Report the lower bound accurate to 2 decimal places with no commas or dollar signs.
2. Calculation a 90% confidence interval, for the unknown population mean. Report the upper bound accurate to 2 decimal places with no commas or dollar signs.
3. Calculation a 95% confidence interval, for the unknown population mean. Report the lower bound accurate to 2 decimal places with no commas or dollar signs.
4. Calculation a 95% confidence interval, for the unknown population mean. Report the upper bound accurate to 2 decimal places with no commas or dollar signs.