What is the estimate of the population mean time it currently takes eleventh graders to run a mile based on the following data (minutes) from a random sample of ten students? 6.5, 8.4, 8.1, 6.8, 8.4, 7.7, 9.1, 7.1, 9.4, 7.5
The students doing the project collected 50 random samples of 10 students each and calculated the sample means. The standard deviation of their distribution of 50 sample means was 0.6 minutes. Based on this standard deviation, what is the margin of error for their sample mean estimate? Explain your answer.
Interpret the margin of error you found in part (b) in the context of this problem.