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# (Solved): The Federal Election Commission (FEC) collects information about campaign contributions and disburse ...

The Federal Election Commission (FEC) collects information about campaign contributions and disbursements for candidates and political committees each election cycle. A political action committee (PAC) is a committee formed to raise money for candidates and campaigns. A Leadership PAC is a PAC formed by a federal politician (senator or representative) to raise money to help other candidates' campaigns.

The FEC has reported financial information for 556 Leadership PACs that operated during one election cycle. The following table shows the total receipts during this cycle for a random selection of 30 Leadership PACs.

 \$46,502.00 \$0 \$40,965.50 \$105,887.20 \$5,176.00 \$29,051.00 \$19,498.00 \$181,559.20 \$31,498.00 \$149,970.80 \$2,555,365.20 \$12,025.00 \$408,998.00 \$60,520.70 \$18,000.00 \$61,812.20 \$76,529.80 \$119,460.20 \$0 \$63,522.00 \$6,502.00 \$502,578.00 \$705,061.10 \$708,256.90 \$135,811.00 \$1,998.00 \$1,999.00 \$0 \$1,287,931.80 \$219,148.30

x = \$251,854.23

s = \$521,130.48

Use this sample data to construct a 96% confidence interval for the mean amount of money raised by all Leadership PACs during the election cycle. Use the Student's t-distribution. (Round your answers to the nearest cent.)

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