Part a) Assuming a population standard deviation gross earnings of 0.51 million dollars, obtain a 99% confidence interval for the mean gross earnings of all Rolling Stones concerts (in millions). Please carry at least three decimal places in intermediate steps. Give your answer to the nearest 3 decimal places. Confidence interval: (,).
Part b) Which of the following is the correct interpretation for your answer in part (a)? A. There is a 99% chance that the mean gross earnings of all Rolling Stones concerts lies in the interval B. If we repeat the study many times, 99% of the calculated confidence intervals will contain the mean gross earning of all Rolling Stones concerts. C. We can be 99% confident that the mean gross earnings for this sample of 30 Rolling Stones concerts lies in the interval D. None of the above
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