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Compute the standard error of the sample mean

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Reference no: EM132188322

A survey of 49 randomly selected iPhone owners showed that the purchase price has a mean of $680 with a sample standard deviation of $21. (Use z Distribution Table.)

  1. Compute the standard error of the sample mean. (Round your answer to the nearest whole number.)
  2. Compute the 99% confidence interval for the mean. (Use t Distribution Table.) (Round your answers to 3 decimal places.)
  3. To be 99% confident, how large a sample is needed to estimate the population mean within $7? (Round up your answer to the next whole number.)

Reference no: EM132188322

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