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The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009).
Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.
a. With 95% confidence, what is the margin of error?
b. What is the 95% confidence interval estimate of the population mean?
c. Two years ago the average cost of a hotel room in New York City was $229. Discuss the change in cost over the two-year period.
From random sample of 48 days in a recent year, U.S. gasoline prices had a mean of $3.63. Assume the population standard deviation is $0.21?
'Statistics is the backbone of decision-making'. Comment.
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Amount to be provided for retirement of long-term obligations An “other debit” common journal value used in the General Long-Term Bills Additional Consideration that symbolizes t
A study looked at the relationship between coronary heart disease (CHD) and coffee consumption in a group of 40-55 year old men. Among the 790 heavy coffee drinkers (at least 100 c
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