For the first six months of the year, an analyst records the monthly closing stock price (in $) for a firm as: 55, 58, 57, 50, 62, 59. (You may find it useful to reference the ttable.) ? Click here for the Excel Data File a. Calculate the sample mean and the sample standard deviation. (Round final answer to 2 decimal places.) Sample mean Sample standard deviation b. Calculate the 99% confidence interval for the mean stock price of the firm assuming that the stock price is normally distributed. (Round final answer to 2 decimal places.) Confidence interval to :. What happens to the margin of error if a higher confidence level is used for the interval estimate? The margin of error increases as the confidence level increases. The margin of error decreases as the confidence level increases.

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