Can you please answer this thank you **Understanding Statistical Mean and Confidence Intervals**---**Survey Analysis: Spending on Children's Birthday Gifts**In a survey, 32 people were asked how much they spent on their child’s last birthday gift. The results were roughly bell-shaped with a mean (average) of \$38.5 and standard deviation of \$13.7. Based on this data, we aim to estimate how much a typical parent would spend on their child’s birthday gift using a 99% confidence level. Provide your answers to 3 decimal places.---**Task: Calculating Confidence Interval**Express your answer in the format of $ \bar{x} \pm E $.- Mean ( $ \bar{x} $ ): `Input Box for Answer in $`- Margin of Error ( $ \pm E $ ): `Input Box for Answer in $`---**Need Help?**- **Written Example:** [Link to example or resource]- **Message Instructor:** [Contact option for further assistance]---**Submission:**- **Submit Question:** [Button for submitting the answer] - **Jump to Answer:** [Button for reviewing the provided answer]---**Instructions:**1. Calculate the standard error (SE) of the mean: \[ \text{SE} = \frac{\sigma}{\sqrt{n}} \] where $ \sigma $ is the standard deviation and $ n $ is the sample size.2. Determine the critical value (z*) for a 99% confidence level.3. Compute the margin of error (E): \[ E = z^* \times \text{SE} \]4. Construct the confidence interval: \[ \bar{x} \pm E \]Remember to round your answers to three decimal places for precision.---**Example Graphs or Diagrams:***There are no graphs or diagrams provided in the original text. However, if there were, an, explanation could be included here for clarification purposes.*

Name: Can you please answer this thank you **Understanding Statistical Mean
Uploaded: 2024-03-20T07:06:27.000Z
Channel: Bartleby
Description: Can you please answer this thank you **Understanding Statistical Mean and Confidence Intervals**---**Survey Analysis: Spending on Children's Birthday Gifts**In a survey, 32 people were asked how much they spent on their child’s last birthday gift. Th