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Business and Management
Many businesses rent a limousine to chauffeur important clients to/from an airport, hotel, or office. A random sample of the cost (in dollars) of renting a limousine for the entire day in Cincinnati was obtained. For n = 25, the mean was x 5 410.25 and the standard deviation was s = 35.07. Assume the cost distribution is normal.
a. Find a 95% confidence interval for the population mean cost of renting a limousine for the entire day.
b. Find a 95% confidence interval for the population variance in the cost of renting a limousine for the entire day.
c. Find a 95% confidence interval for the standard deviation in the cost of renting a limousine for the entire day.
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