Dr. Mack Lemore, an expert in consumer behavior, wants toestimate the average amount of money that people spend in thriftshops. He takes a small sample of 8 individuals and asks them toreport how much money they had in their pockets the last time theywent shopping at a thrift store. Here are the data: 13.66, 41.35,21.43, 10.49, 25.57, 37.04, 17.5, 27.07. Find the lower bound of a98% confidence interval for the true mean amount of moneyindividuals carry with them to thrift stores, to two decimalplaces. Take all calculations toward the final answer to threedecimal places.
