The monthly incomes from a random sample of workers in a factory are shown below.
Monthly Income
(In $1,000)
4.0
5.0
7.0
4.0
6.0
6.0
7.0
9.0
a. Compute the standard error of the mean (in dollars).
b. Compute the margin of error (in dollars) at 95% confidence.
c. Compute a 95% confidence interval for the mean of the population. Assume the population has a normal distribution. Give your answer in dollars.