Estimate of the population mean time, Basic Statistics

Assignment Help:

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.

Related Discussions:- Estimate of the population mean time

What are saturn’s rings like, What are Saturn’s rings like? - Saturn’s ri...

What are Saturn’s rings like? - Saturn’s rings are made of tiny icy objects ranging from particles to boulders each orbiting Saturn independently like a tiny moon. They lie in S

Help with homework, 1. Penny Pincher, Inc. had a contribution margin of $33...

1. Penny Pincher, Inc. had a contribution margin of $33,000 on sales of $50,000 and had fixed costs of $18,000. Calculate its break-even point in sales dollars. 2. Krueger Company

Kripsy kreme, How did round trip transactions violatet the revenue recognit...

How did round trip transactions violatet the revenue recognition principle?

Managing ashaland multicomm service, please give me, example answer managin...

please give me, example answer managing ashland multicomm servicess. tq

CHI-SQUARE, proof that the square of a normal distribution will give a chi-...

proof that the square of a normal distribution will give a chi-square

Calculate the unit of omputer peripheral device, Northern Hi-Tec Electronic...

Northern Hi-Tec Electronics Limited manufactures six computer peripheral devices: internal modems , external modems , circuit boards , CD drives , hard disk drives , and memo

Financial, on july 2,ali collected cash of Rs 700 from accounts receivable ...

on july 2,ali collected cash of Rs 700 from accounts receivable ,july 9 purchased gym equipments for 2175, paying 5500 in cash and charging the remainder on the company 30 day acco

Bank Reconciliation, need to understand bank recon...

need to understand bank recon...

#13, A survey showed that 80% of the 1600 adult respondents believe in glob...

A survey showed that 80% of the 1600 adult respondents believe in global warming. Construct a 95% confidence interval estimate of the proportion of adults believing in global warmi

Factorial anova , Assessment Two tests your ability to conduct a factorial ...

Assessment Two tests your ability to conduct a factorial ANOVA and make appropriate decisions regarding any follow up comparisons. The following data set is adapted from Jaccard an

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages