For Exercises 49–56, software output for confidence intervals for are provided. Assume the conditions are met. For each, examine the indicated software output, and do the following:

  1. Report the confidence interval in the form “(lower bound, upper bound).”
  2. Interpret the confidence interval.
  3. Calculate the margin of error for the confidence interval.
  4. Interpret the margin of error.

Question 8.150

53. Small Businesses. Crunchit! Output, where represents the population mean number of small businesses per city, nationwide. Note: The notation “” means to move the decimal place four places to the right. So, “,” moving the decimal place four places to the right, gives us 22,400.

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8.2.53

(a) (22,400, 25,630) (b) We are 95% confident that μ, the population mean number of small businesses per city for all cities nationwide, lies between 22,400 small businesses per city and 25,630 small businesses per city. (c) 1615 small businesses per city (d) We can estimate the population mean number of small businesses per city for all cities nationwide to within 1615 small businesses per city with 95% confidence.