A survey of nonprofit organizations showed that online fundraising has increased in the past year. Based on a random sample of 50 ​nonprofits, the mean​ one-time gift donation in the past year was ​$​37, with a standard deviation of ​$7. Construct a 99​% confidence interval estimate for the population​ one-time gift donation.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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A survey of nonprofit organizations showed that online fundraising has increased in the past year. Based on a random sample of 50 ​nonprofits, the mean​ one-time gift donation in the past year was ​$​37, with a standard deviation of ​$7. Construct a 99​% confidence interval estimate for the population​ one-time gift donation.

Expert Solution
Step 1: Determine the given data

From the provided information,

n equals 50
top enclose x equals 37
s equals 7

Confidence level = 99%

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