A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 112 homeowners selected from this area showed that they pay an average of $1579 per...

Mm3

Extracted text: A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 112 homeowners selected from this area showed that they pay an average of $1579 per month for their mortgages. The population standard deviation of such mortgages is $214. a. Find a 95% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area. Round your answers to two decimal places. to dollars b. Suppose the confidence interval obtained in part a is too wide. Select all of the ways the width of this interval can be reduced. IT OIncreasing the sample size AH Lowering the sample size kills OIncreasing the confidence level OLowering the confidence level itai