Asample survey of 54 discount brokers showed that the mean price charged for a trade of 100shares at 50 per share was $33.77 (aaii journal, february 2006). the survey is conducted annually. with the historical data available, assume a known population standard deviation of $15.
a. using the sample data, what is the margin of error associated with a 95% confidence interval?
b. develop a 95% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share.