Problem:
Company is packaged and sold with unknown weight and standard deviation. Seven packages are randomly selected and weighed with the following results in pounds:
38, 38, 37, 39, 35, 35, 37
Required
Question 1) What is the point estimate for the population mean?
Question 2) Construct the 98% confidence interval estimate for the actual population mean weight.
Provide correct solution of the given problem with step by step caalculations.