Confidence interval to estimate average selling price, Basic Statistics

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Confidence interval to estimate average selling price

The average selling price of BlackBerry smart phones purchased by a random sample of 35 customers in 2010 was $311. Assume the population standard deviation was $35.

a) Construct a 90% confidence interval to estimate the average selling price in the population with this sample.

b) What is the margin of error for this interval?

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Basic Statistics: Confidence interval to estimate average selling price

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Basic Statistics: Confidence interval to estimate average selling price

Reference No:- TGS0722758

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Recent Questions Asked Basic Statistics

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Ask an Expert for Answer!!

Basic Statistics: Confidence interval to estimate average selling price

Reference No:- TGS0722758

Recent Questions Asked Basic Statistics

Q : What would be the treatment of the investment

Q : Finite correction factor

Q : Why is it necesary for managment to use estimates

Q : Magnitude of the contact force

Q : Confidence interval to estimate average selling price

Q : Determining the population mean

Q : Final speed of the sand bag

Q : Why might a company decide to use activity-based costing

Q : Estimate the population mean

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