Just one day before a meeting with your manager, he asks you to get a sample of the planned new investment from your investors over the next year. You call as many as possible and end up with a sample of the first 26 investors who answer. The average planned investment among those 26 investors is $527,000, with a standard deviation of $150,000.

Assume that this is a valid, random sample and that planned investments are normally distributed. What is the 95% confidence interval for the average investor’s planned next-year investment (specify your values to the nearest $1)?

Obviously, this is not a random sample. What kind of sampling did the analyst use to collect this sample (please briefly explain)?

Name one kind of bias that might be present in this sample and why.