For each of Exercises 57–60, do the following:

  1. Find the point estimate of the population mean.
  2. Calculate .
  3. Find for a confidence interval for the indicated confidence level.
  4. Confirm that the conditions for constructing a interval are met.
  5. Construct and interpret a confidence interval with the indicated confidence level for the population mean.

Question 8.58

58. Stock Shares Traded. The Statistical Abstract of the United States reports that the mean daily number of shares traded on the New York Stock Exchange (NYSE) in March 2010 was 2129 million. Assume that the population standard deviation equals 500 million shares. Suppose that, in a random sample of 36 days from the present year, the mean daily number of shares traded equals 2 billion. Let the confidence level be 95%.