And it means? Every statement about a confidence interval contains two parts—the level of confidence and the interval. Suppose that an insurance agent estimating the mean loss claimed by clients after...

And it means? Every statement about a confidence interval contains two parts—the level of confidence and the interval. Suppose that an insurance agent estimating the mean loss claimed by clients after home burglaries created the 95% confidence interval ($1644, $2391).

a) What’s the margin of error for this estimate?

 b) Carefully explain what the interval means.

 c) Carefully explain what the 95% confidence level means.